Property Overview
This 1987 bi-level home at 277 Union Avenue W in Winnipeg's Chalmers neighbourhood presents a specific and practical opportunity. Its key appeal lies in being a more modern structure within an area of predominantly older homes, paired with a very low property tax burden. The home features 760 sqft of living space, a renovated basement, and sits on a 2,263 sqft lot. It last sold in October 2020 for $22,100 and has a current assessed value of $12,400.
Section 1: Key Characteristics & Appeal
- Key Characteristics: This is a compact, late-1980s bi-level home, which is notably newer than most homes on its street and in the wider Chalmers area. It sits on a smaller lot compared to local and city averages. A primary feature is its renovated basement. The home does not have a garage or pool.
- Where Its Appeal Lies: The primary advantages are its relative modernity in an older housing stock and its exceptionally low annual property tax cost due to the low assessed value. The renovated basement adds functional living space. For the right buyer, the smaller lot size translates to minimal exterior maintenance.
- Suitable Buyer Profile: This property would best suit a first-time homebuyer or an investor seeking an entry point into the market with very low carrying costs. It would also appeal to a downsizer or someone seeking a minimalist, low-maintenance lifestyle without the upkeep of a larger property or yard. It is less suited for those needing ample indoor space, multiple bedrooms, or a traditional large yard.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Assessed values are set by the municipal government for taxation purposes and do not always reflect current market value. The significant difference here suggests the property may be assessed based on its specific attributes (like size) rather than recent sales trends, resulting in lower property taxes.
2. What does "renovated basement" typically mean in a bi-level?
In a bi-level home, the basement is partially above ground, offering better natural light and potential for proper living space. A renovated basement here likely means the lower level has been finished into a functional room, such as a family room or bedroom, adding to the home's usable square footage.
3. The lot size is noted as "below average." How significant is this?
The lot is approximately half the size of the average lot on Union Avenue W. This is a defining characteristic: it means far less yard maintenance, but also very limited outdoor private space. It's a practical trade-off that prioritizes simplicity over gardening or expansive outdoor recreation.
4. The home is newer than most in the area. Is that an advantage?
Potentially, yes. A 1987 build may have modern wiring, plumbing, and insulation standards compared to the century-old homes common in the neighbourhood. This could mean fewer immediate concerns about outdated mechanical systems and potentially lower utility costs.
5. Who might this not be a good fit for?
This home is likely not a fit for growing families needing multiple bedrooms and play space, or for anyone who values a large garage, workshop, or garden. Its compact size and small lot are very specific advantages that align with a minimalist lifestyle or investment strategy.