Property Overview
This one-and-a-half storey home, built in 1911, presents a specific and compelling opportunity. Its primary appeal lies in its efficient use of space and its position as an affordable entry point into the Winnipeg market. With a living area of 1,090 sq ft that is notably above average for its immediate street and neighborhood, the home offers more interior space than many comparable properties nearby. However, the lot size of 2,263 sq ft is below average for the area, suggesting a compact, low-maintenance yard. The home features a basement but it is not renovated, and there is no garage or pool. The most recent sale was in December 2021 for $19,500, with a current assessed value of $20,300.
This property would suit a pragmatic, value-focused buyer. It’s ideal for a first-time homeowner or an investor looking for a low-cost holding with renovation potential, particularly someone comfortable with a home that requires updates. The below-average land area may not appeal to those seeking expansive outdoor space, but it translates to less upkeep. The well-above-average interior space for the locale is a key advantage, offering more room than the modest price tag might suggest.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value of $20,300 is significantly below the Winnipeg city average, reflecting the home’s age, condition, and neighborhood. It indicates a very low property tax burden, which is a major ongoing cost saving for an owner.
2. The lot size is noted as "below average." How significant is this?
The land area is in the bottom 10% for the street and neighborhood. This means the yard is compact. For some, this is a drawback for gardening or expansion. For others, it represents minimal landscaping chores and a focus on the interior living space.
3. The living area is "above average" for the area. What does that mean practically?
While many similar, older homes in Chalmers average around 950 sq ft, this home offers about 1,090 sq ft. This means you are likely getting more bedrooms, larger rooms, or a more functional layout than other homes in its price range in the immediate vicinity.
4. What is the implication of the unrenovated basement?
An unrenovated basement typically means it is in a rough, utilitarian state—likely concrete floors and walls, with exposed mechanical systems. It offers storage and potential for future finishing, but any development would require a significant investment.
5. Who might this property not be suitable for?
It is likely not a fit for buyers seeking a move-in-ready home or modern amenities, as updates will be needed. It’s also less suitable for those prioritizing a large private outdoor space or requiring garage parking. The profile suggests a project, either as a live-in renovation or a straightforward rental investment.