Property Overview
This 1946 one-storey home on Chalmers Avenue is a compact, no-frills property centered on its renovated basement and its land value. At 648 sqft of living space, it is notably smaller than most homes in the area, ranking in the bottom 4% on its street for size. The lot, at 3,383 sqft, is also below the street average but is more in line with typical neighbourhood dimensions. Its key update is a renovated basement, and it does not include a garage or pool. The home last sold in 2016 for $180k, a price point that was below the city average at the time.
Its primary appeal lies in its affordability and its potential as a straightforward investment. It suits a very specific buyer: a first-time purchaser or investor looking for a low-maintenance entry into the Winnipeg market, someone comfortable with a small footprint, or a buyer viewing the property primarily for its land value in an established neighbourhood. The renovated basement adds functional space, which is a critical upgrade given the modest main floor area. A less obvious perspective is that its "below average" size and price for the city might represent a manageable holding in a market where smaller, affordable listings are increasingly scarce, positioning it as a practical asset rather than a dream home.
Frequently Asked Questions
1. How does the living area of 648 sqft actually feel?
It is significantly smaller than the average home on the street (about 981 sqft) and city-wide. The renovated basement is therefore not just an extra but essential added living space, making the property functional for a small household.
2. Is the assessed value a good indicator of the likely sale price?
Not directly. The assessed value for taxation purposes ($21.6k) is far below market value, as shown by its 2016 sale at $180k. Always look to recent comparable sales, not the tax assessment, for pricing.
3. What does the land size mean for this property?
At 3,383 sqft, the lot is smaller than others on Chalmers Avenue but typical for the broader Chalmers neighbourhood. It offers standard outdoor space for the area but is not a large or development-sized parcel.
4. Who would this property not suit?
It would not suit buyers needing multiple bedrooms, dedicated home office space, garage parking, or those who prioritize modern open-concept layouts. The smaller scale requires a minimalist approach.
5. What is the significance of the 2016 sale price today?
While it provides a historical benchmark, market conditions have changed since 2016. It indicates a history of being an affordable option, but a current valuation would need to be based on very recent sales of similar, small-footprint homes in the area.