Property Overview & Key Characteristics
This one-storey home at 247 Winterton Avenue in Winnipeg's Chalmers neighbourhood is a compact, no-frills property built in 1929. Its primary appeal lies in its affordability and the potential represented by its land. With a modest 600 sqft living area and a recently renovated basement, the house itself is smaller than most in the area, but it sits on a roughly 3,000 sqft lot that is typical for the street. The detached garage adds practical utility. The assessed value and recent sale price are notably below averages for the city, positioning this as an entry-point opportunity.
This property would suit a specific type of buyer: a first-time purchaser or investor comfortable with a smaller footprint and attracted by the lower financial barrier to entry. It’s a practical choice for someone who values location and land size over interior space, possibly seeing the renovated basement as a key living or rental expansion. The buyer should be prepared for a home that, while updated in the basement, may require ongoing updates consistent with its age.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes with the city if considering rental income.
2. How does the low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes, which is a financial advantage. However, buyers should be aware that a purchase price significantly above the assessed value can lead to a future assessment increase.
3. The living area is quite small. How does the basement factor into usable space?
The 600 sqft measurement is for above-ground living area. The renovated basement provides additional functional space, effectively doubling the usable square footage, though basement space is often valued differently than main-floor living area.
4. What does the "below average" ranking for the lot size city-wide mean?
While the lot is a standard size for the Chalmers neighbourhood, it is smaller than the typical Winnipeg lot, which often includes newer suburban areas with larger plots. This isn’t unusual for an older, established inner-city area.
5. Given the age of the home, what should I budget for maintenance?
Built in 1929, the core systems (roof, plumbing, electrical, foundation) may require inspection and potential updates, even with a renovated basement. Budgeting for proactive maintenance is wise for a home of this vintage.