240 Bowman Avenue

Property Overview

This one-storey home at 240 Bowman Avenue is a compact, century-old property on a standard city lot in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its position as an affordable entry point into the housing market, particularly for land value. The 603 sqft living area is notably modest, ranking well below average for the street, area, and city. The home has a basement (unrenovated) and no garage. Its last recorded sale was in 2016 for $8,300, and its current assessed value is $12,800, which is significantly below city averages. This property would suit a very budget-conscious buyer, such as an investor looking for a land-hold, a hands-on renovator seeking a minimal initial investment, or someone prioritizing absolute lowest cost over living space. Its older age (built in 1914) suggests potential character but also implies a need for thorough inspection regarding systems and maintenance.

Frequently Asked Questions

1. What is the main draw of this property?
The main draw is its low cost. With an assessed value far below the city average, it represents one of the most accessible price points in the Winnipeg market, making homeownership attainable for a very limited budget.

2. Is this a move-in ready home?
Based on the details, likely not. The listing specifies an unrenovated basement, the home is 112 years old, and the living space is very small. Buyers should anticipate needing updates and repairs, and budget accordingly for a thorough inspection.

3. Who would this property not suit?
It would not suit buyers needing move-in readiness, families or individuals requiring more than minimal living space, or anyone unable to handle potential renovation projects and maintenance associated with a century-old home.

4. The land is noted as "around average" for the street. Is that a positive?
Yes, in context. While the house itself is small, the 2,500 sqft lot is typical for Bowman Avenue. This means the property isn't undersized for its location, and the land itself may hold a proportionally higher share of the property's value.

5. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's very small living area, older age, and likely its condition and market position. It is assessed in line with similar, low-value properties in the Chalmers area, not the broader Winnipeg market which includes newer and larger homes.