Property Overview: 236 Martin Avenue W, Winnipeg
Key Characteristics & Buyer Appeal
This is a modest, century-old home (built 1913) on a standard city lot in the Chalmers neighbourhood. Its primary appeal lies in its affordability and land value, having sold recently for $16,300—a figure significantly below the Winnipeg average. The 1,040 sqft, one-and-three-quarter storey house offers a functional layout with an unfinished basement, but no garage or pool.
The property suits specific, practical buyers. It’s a clear candidate for a land play—investors or builders looking for a lot with an existing structure in a neighbourhood where land values are rising. It also fits first-time buyers or handy homeowners with very tight budgets who are willing to live in a basic, unrenovated property while they slowly improve it, or who prioritize low carrying costs above modern finishes. A less obvious perspective is its potential as a rental property; the extremely low purchase price could allow for positive cash flow, even after accounting for necessary updates, assuming the core structure is sound.
Frequently Asked Questions
1. Why is the sale price so much lower than the city-wide average?
This is typical for older, unrenovated homes in neighbourhoods like Chalmers. The price reflects the condition and age of the structure itself, with much of the value tied to the land.
2. What does “one & 3/4 storey” mean for the layout?
This style, common for homes of this era, typically features a main floor and a second floor where the roofline slopes into the rooms, creating some rooms with full ceiling height and others with sloped ceilings or reduced headspace.
3. How does the lot size compare to the area?
At 3,620 sqft, the lot is slightly above average for both the immediate street and the Chalmers neighbourhood, but below the city-wide average. This suggests a decent-sized yard for the area.
4. Is the low assessed value a concern?
Not necessarily. The assessed value ($17,500) is for municipal tax purposes and is closely aligned with the recent sale price. It indicates the home is not currently considered a high-value property by the city assessor.
5. What should be the first priority for a new owner?
A thorough inspection is critical for a 113-year-old home. The first priorities would be to verify the integrity of the foundation, roof, wiring, and plumbing before considering any cosmetic updates. The unfinished basement also presents both a challenge and an opportunity for future expansion or utility upgrades.