Property Overview: 244 Washington Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1922 on a standard city lot in the Chalmers neighbourhood. Its key characteristic is its modest scale, with a living area of 600 sqft, which is notably smaller than most comparable homes locally and city-wide. The property includes a detached garage and an unrenovated basement, presenting a classic "blank canvas" opportunity. Its appeal lies primarily in its land value and potential. The assessed value is significantly below average, suggesting an accessible entry point into the market. This home would suit a first-time buyer, an investor, or a hands-on individual looking for a manageable project. It’s not a move-in-ready showpiece but a practical foundation. A thoughtful perspective is that its smaller size and lower taxes could align well with a minimalist lifestyle or as a strategic hold in a neighbourhood where the land itself may hold future value relative to the structure.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
While the home is small and older, its average ranking for year built on its street suggests it fits the area's character. The decision to renovate or rebuild would depend on a buyer's budget and goals, but the existing structure provides a usable starting point.
2. What does the "below average" assessed value mean for property taxes?
A below-average assessed value typically results in lower municipal property taxes compared to higher-valued homes in the city, which is a practical financial advantage for the owner.
3. How does the lot size compare?
At just under 3,000 sqft, the lot is below average for Winnipeg but is a standard size for its specific street and the Chalmers area. It offers typical yard space for the neighbourhood.
4. What can be inferred from the 2023 sale price being close to the current assessed value?
The recent sale suggests the market price is closely aligned with the city's assessment, indicating stability and a lack of speculative inflation in the immediate period.
5. Who might this property not suit?
It would likely not suit a buyer seeking a modern, spacious, or low-maintenance home without planning for significant updates or an addition. Families requiring multiple bedrooms or ample living space may find it too compact as-is.