Property Overview
This one-and-a-half storey home on Midwinter Avenue presents a solid opportunity in Winnipeg's Chalmers neighbourhood. Built in 1947, it sits on a notably large 7,562 sqft lot, which is well above average for both the immediate street and the broader area. The home itself offers 1,238 sqft of living space, which is spacious for the neighbourhood, and features a renovated basement and a detached garage. It last sold in 2019 for $200,000.
Key Characteristics & Appeal
The primary appeal of this property is its land. The lot size is a standout feature, placing it in the top 15% on its street and the top 1% within Chalmers, offering rare potential for expansion, gardening, or outdoor living. The renovated basement adds functional, modernized space. While the home’s assessed value is modest compared to the city-wide average, this indicates a potentially accessible entry point into a neighbourhood where the living space and lot size offer above-average value.
This home would suit a practical buyer looking for a character home with ample outdoor space without a premium city-wide price tag. It’s ideal for someone who values a large yard over a brand-new build, and for whom a renovated basement and detached garage meet core utility needs. The numbers suggest it's a property that outperforms its immediate peers on key metrics like lot and living area, making it a strong contender within its local market.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement has been renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, ceiling height, and whether it includes a legal secondary suite or additional bedrooms.
2. How does the 2019 sale price relate to today's value?
The $200,000 sale price from 2019 provides a historical benchmark. Current value would be influenced by market conditions since then, the property’s condition, and any updates made. The assessed value for taxation ($24,500) is not an indicator of market value.
3. Is the large lot typical for the area?
No, the lot is exceptionally large for the Chalmers neighbourhood (top 1%). This is a key advantage, though buyers should check zoning bylaws to understand what can be built or added to the property.
4. What are the implications of the "below average" city-wide rankings?
Rankings like "below average" for year built or assessed value city-wide reflect that newer, higher-valued homes exist in other parts of Winnipeg. This isn't necessarily a drawback; it often means the property is more affordable while still being competitive within its own neighbourhood context.
5. What should I consider about a home built in 1947?
While the home has been updated with a renovated basement, a build date of 1947 means core systems (roof, wiring, plumbing, insulation) may be original or dated. A thorough inspection is crucial to understand the home’s condition and anticipate potential maintenance or upgrade costs.