Property Overview: 266 Union Avenue W, Winnipeg
Key Characteristics & Buyer Appeal
This one-and-three-quarter storey home, built in 1914, presents a classic Winnipeg character property with a practical footprint. Its key appeal lies in its balance of space and value. With 1,074 square feet of living area, the home offers above-average interior space for its immediate street and Chalmers neighbourhood, providing more room than many comparable houses. It sits on a standard city lot of approximately 3,448 sqft.
The property’s most significant characteristic is its positioning as a value-oriented opportunity. The assessed value is notably below average for the area, which suggests potential for buyers comfortable with a home that likely requires updates. The presence of an unrenovated basement indicates room for customization and added value. This isn’t a move-in-ready showcase; its appeal is grounded in solid fundamentals—good relative living space on a standard lot—at an accessible entry point. It would suit a pragmatic first-time buyer, an investor looking for a character rental, or a hands-on individual who sees potential in a canvas for gradual improvement. The data suggests you are paying primarily for the structure and location, not for prior upgrades.
Frequently Asked Questions
1. What does "one & 3/4 storey" mean?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor with sloping ceilings where the roofline begins, often making the upstairs rooms cozy and character-filled.
2. The assessed value seems very low. Why is that?
The low assessed value, especially compared to nearby sale prices of similar homes, often reflects the home’s original condition and lack of major renovations. It’s a key indicator that this is a value-priced property, not a reflection of the lot or neighbourhood value.
3. Is the land size a pro or a con?
The lot is very typical for the Chalmers neighbourhood—neither particularly large nor small. It provides adequate outdoor space without the high maintenance or taxes of a much larger city lot, aligning with the home’s practical nature.
4. The home is 110 years old. What should I be most concerned about?
While systems like plumbing, electrical, and the foundation should be professionally inspected, also consider the unrenovated basement. Its condition and potential for moisture management are crucial, as finishing it could be a key source of added living space.
5. How do the rankings (e.g., "Top 26% for Living Area") help me?
These rankings contextualize the home against its peers. For example, ranking in the top 26% for living area on its street confirms you get more interior space than most similar nearby homes. Conversely, a lower rank for year built simply confirms its age is typical for the area.