Property Overview
This one-and-a-half storey home, built in 1914, is situated on a standard 3,001 sqft lot in the Chalmers neighbourhood. Its primary appeal lies in its above-average living space (1,127 sqft) for the immediate area, offering more room than many neighbouring homes. The property features an unrenovated basement and does not include a garage or pool. It last sold in March 2023 for $28,500 and carries a current assessed value of $23,800.
This home is a practical opportunity for a specific buyer. It best suits an investor, a hands-on renovator, or a buyer seeking absolute entry into the market with a focus on land and location over move-in-ready condition. Its value is in the existing structure's generous footprint for the street and the potential held in its original, unrenovated state. A thoughtful perspective is that while the home ranks below average for age city-wide, its pre-war construction on Ottawa Avenue is actually the norm, suggesting a streetscape with established character. The modest sale and assessed prices indicate this is a value proposition centred on fundamentals, not finishes.
Frequently Asked Questions
What does "above average living area for the street" mean practically?
It means the home's interior square footage is larger than most directly comparable homes on Ottawa Avenue. You're getting more living space than is typical for this specific block, which is a notable advantage in an older neighbourhood.
Is the low assessed value a concern?
Not necessarily. It primarily reflects the home's unrenovated condition and market values within the Chalmers area. It can mean lower property taxes, which is a benefit for an investor or owner planning to hold the property through renovations.
What is implied by an "unrenovated basement"?
This typically indicates the basement remains in its original or largely untouched state. Buyers should budget for potential updates to meet modern standards for moisture control, insulation, and electrical systems if they intend to finish the space.
Who might the neighbouring properties at similar assessed values be?
The listed properties with similar assessed values are located in various neighbourhoods across Winnipeg. This highlights that at this price point, you are choosing between this home's specific location and lot in Chalmers versus potentially different property types (like condos or townhomes) in other areas of the city.
How should I interpret the sale history?
The home sold very recently, in March 2023. This provides a clear, current benchmark for its market price. A quick resale could indicate an investor purchase or a property being flipped, so due diligence on any work done in that short period is advised.