Property Overview: 251 Gordon Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a compact, one-storey home built in 1907, situated on a standard-sized lot in the Chalmers neighbourhood. Its primary appeal lies in its position as an affordable entry point into homeownership. With 801 sqft of living space, an unfinished basement, and no garage, it represents a straightforward, low-maintenance property.
The home’s standout feature is its low municipal assessed value, which is significantly below city-wide averages. This suggests very modest property taxes, a key financial consideration. While the living area is typical for its immediate area, the lot size is above average for the street, offering decent outdoor space relative to the home's footprint. It suits a specific buyer: someone seeking an economical first home, a long-term investment property, or a buyer comfortable with a vintage home that may require updates over time. It’s less suited for those needing modern finishes, ample storage, or garage parking from day one.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed values are based on market value and comparable sales. This valuation reflects the home’s age, size, and condition relative to the broader Winnipeg market, where newer and larger homes are common. It indicates proportionally lower property taxes.
2. What does the "unfinished basement" mean for potential use?
The basement is present but not renovated. It offers functional space for storage, utilities, and laundry, but any finished living area would require a future investment. It provides flexibility but not immediate additional living space.
3. How does the lot size compare to nearby properties?
At 2,744 sqft, the lot is actually above the average for Gordon Avenue. This means you likely have more usable yard space than many of your direct neighbours, which is a positive for outdoor use or gardening.
4. The home is over 100 years old. What should I consider?
While offering classic charm, a home from 1907 may have older systems (like plumbing or wiring) and will likely require a diligent inspection. Its maintenance needs and renovation potential are central considerations compared to a newer build.
5. The past sale prices seem very low. What does that indicate?
Historical sale prices, like the 2019 sale at $13.7k, are consistent with the low assessed value and suggest this has been treated as a land-value or investment property in recent transactions. It underscores the property's role as an affordable entry point in the market.