Property Overview & Key Characteristics
This one-and-a-half storey home, built in 1914, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its efficient use of space and its position as a land-value proposition. With a living area of 1,096 sqft, the home is notably more spacious inside than many comparable houses on its street and in the immediate area. The lot size of 3,449 sqft is typical for the local community but is below the citywide average, framing this as an urban, neighbourhood-centric purchase rather than a large-lot investment.
The home suits buyers looking for a straightforward, no-frills property, likely as a first home, a long-term hold, or a renovation project given its unrenovated basement. Its assessed value sits above average for both the street and Chalmers, suggesting it is viewed as a solid asset within its local context. The most recent sale in 2020 was close to the assessed value, indicating stable, modest market movement. This isn't a luxury property, but a grounded, functional home for a buyer comfortable with an older structure and interested in the fundamentals of space and location over modern amenities.
Frequently Asked Questions
1. What does "one-and-a-half storey" typically mean for a 1914 home?
This style usually features a main floor with principal rooms and a second floor under sloped roofs, creating cozy bedrooms with potentially reduced ceiling height in some areas. It's a classic Winnipeg design, offering character but often requiring thoughtful updates to improve energy efficiency and layout flow.
2. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and reflects the property's value relative to others in its specific market tier. While it is below the Winnipeg citywide average, it is above average for its own street and neighbourhood. This signals that the property is considered a stronger-than-average asset within the affordable Chalmers market, not necessarily that it is undervalued.
3. What are the implications of an unrenovated basement?
This means the basement is in original or utilitarian condition. It offers potential for future development (subject to permits and moisture management checks), but buyers should budget for necessary updates like modern insulation, flooring, and possibly addressing foundational or waterproofing needs common in century-old homes.
4. How does the lot size compare in practical terms?
At 3,449 sqft, the lot is perfectly adequate for a home of this era and provides standard backyard space for the area. However, it is significantly smaller than the Winnipeg average lot. This is a key point for buyers who prioritize large outdoor space versus those who prefer a lower-maintenance yard.
5. The home last sold in 2020. Is the price history stable?
The 2020 sale price of $20,500 was very close to its current assessed value of $23,600. This suggests a market with modest, gradual appreciation in line with local assessments, rather than volatile swings. It points to a stable, predictable entry point into the market.