Property Overview & Appeal
This one-storey home on Dearborn Avenue in Chalmers is a property defined by its land and location. Built in 1914, its primary appeal lies in its above-average lot size for the immediate street, offering a generous 2,591 sqft of land in an established neighbourhood. The home itself is compact at 689 sqft of living space and features a detached garage and an unrenovated basement, presenting a straightforward, no-frills canvas.
Its value proposition is clear: it’s a land play with a liveable structure. It suits first-time buyers or investors seeking an entry point into the Winnipeg market with lower property taxes, as reflected in its assessed value. The appeal is for those comfortable with a home that may require updates over time, or who prioritize outdoor space and future potential over immediate move-in finish. A thoughtful perspective is that while the living area is small city-wide, it ranks more moderately within the Chalmers area itself, suggesting the neighbourhood may offer more of these character-focused, efficient homes.
Frequently Asked Questions
1. Is the basement finished or usable for storage?
The basement is noted as "not renovated." It is present and likely offers fundamental utility space, but it should be considered unfinished and may require inspection for moisture control and suitability for storage.
2. How does the lot size compare to others nearby?
The land area is a key feature. At 2,591 sqft, it is larger than most lots on Dearborn Avenue itself (ranking in the top 21%), though it is slightly below the average lot size for the broader Chalmers neighbourhood.
3. What is the significance of the assessed value being much lower than the last sale price?
The assessed value ($15,900) is for municipal tax purposes and is not a direct indicator of market value. The home sold for $140,000 in 2021. This large discrepancy is common and reflects different valuation methods; buyers should rely on recent comparable sales, not the assessment, to gauge market value.
4. What type of renovation potential does this property have?
The unrenovated basement and compact main floor offer clear potential for updates. The above-average lot size for the street could also allow for future additions, a garage upgrade, or landscaping projects, subject to local zoning bylaws.
5. Are homes on this street typically older?
Yes. With a build year of 1914, this home is actually newer than the average for Dearborn Avenue. The street is characterized by historic, early-20th-century homes, which is typical for the Chalmers area.