Property Overview
This one-storey home at 256 Washington Avenue in Winnipeg's Chalmers neighbourhood presents a specific and practical value proposition. Built in 1964, it is notably newer than most homes on its street and in the broader area. The property features a renovated basement and a detached garage. With a living area of 888 sqft, it offers compact, manageable space. Its primary appeal lies in its efficient use of a 2,959 sqft lot, which is below average citywide but provides ample outdoor space for the home's footprint. The assessed value is modest, especially compared to the city average, suggesting a lower property tax burden.
This home would suit a first-time buyer, an investor, or someone looking to downsize, seeking an affordable entry into the market with a home that is structurally younger than its peers and has had key updates. Its value is functional rather than luxurious, ideal for those prioritizing practicality and lower ongoing costs over square footage.
Frequently Asked Questions
1. What does it mean that the home is "newer" than most in the area?
The home was built in 1964, which ranks in the top 10-13% for age on its street and in Chalmers. This generally suggests potentially fewer issues with outdated building materials or major systems compared to the area's older housing stock, which averages from the 1930s.
2. Is the living space small?
At 888 sqft, the living area is slightly below the local average. It's a compact layout, which means lower utility costs and less maintenance, but may require creative use of space or utilize the renovated basement for additional living or storage areas.
3. How does the lot size impact this property?
The lot is 2,959 sqft, which is smaller than the Winnipeg average but typical for the neighbourhood. For this size of home, it provides a good ratio of yard to house, offering outdoor space without being overwhelming to maintain.
4. Why is the assessed value significantly lower than the city average?
The assessed value of $24,800 is based on municipal valuation for tax purposes and is far below the city average of $390k. This strongly indicates much lower annual property taxes, which is a key ongoing financial advantage for the owner.
5. Who would this property not be suitable for?
It may not suit buyers looking for a large, move-in-ready home with ample above-ground square footage, modern open-concept layouts, or premium neighbourhood amenities. It's a value-oriented property best for those with modest space needs or renovation vision.