Property Overview
This one-and-a-half storey home at 258 Martin Avenue W in Winnipeg's Chalmers neighbourhood presents a specific and straightforward opportunity. Built in 1912, its primary appeal lies in its value proposition and efficient use of space. With a modest 2,263 sqft lot and 1,068 sqft of living area, it stands out for having above-average interior space for its immediate area, offering more room than many neighbouring comparables. The home features a basement, though it is not renovated, and does not include a garage or pool.
Its core appeal is to value-conscious buyers, such as first-time homeowners or investors, seeking an entry point into the market with a manageable footprint. The very low historical sale price and assessed value, which are significantly below the citywide average, highlight its role as an affordable option. It would suit a practical buyer comfortable with a home of vintage character (and the maintenance that may entail) who prioritizes function and cost over modern finishes or expansive outdoor space. A less obvious perspective is that its smaller lot size translates to lower maintenance demands, which could be a hidden benefit for those seeking a simplified lifestyle. The data suggests this isn't a premium property, but a pragmatic foundation for a live-in renovation project or a long-term hold.
Frequently Asked Questions
1. What is the true condition of the property?
The listing notes the basement is "not renovated," which strongly suggests the home requires updates and general maintenance. Given its age (1912), prospective buyers should budget for potential repairs to older systems and plan for a thorough inspection.
2. Why is the assessed value so much lower than the Winnipeg average?
The assessed value is in line with similar homes on its street and in Chalmers, but falls far below the citywide average. This reflects the home's smaller lot and living area compared to the broader market, its unrenovated state, and the general pricing dynamics of the neighbourhood.
3. Is there potential for expansion or adding a garage?
The lot size is below average for the area, which may limit options for significant additions or outbuildings. Any expansion plans would need to carefully consider lot coverage bylaws and may be challenging given the existing footprint.
4. How does the living space compare to nearby homes?
This is a key strength of the property. Its living area is ranked in the top 30% for both its street and the Chalmers neighbourhood, meaning it offers more interior space than many directly comparable properties, despite the modest lot.
5. What is the parking situation?
The property has no garage. Parking would be dependent on street availability, so it's important to verify local parking regulations and typical space availability.