Property Overview & Key Characteristics
This one-storey home at 281 Ottawa Avenue in Winnipeg's Chalmers neighbourhood presents a straightforward, value-oriented opportunity. Built in 1914, its primary appeal lies in its efficient scale and recent updates, most notably a renovated basement. With 719 sqft of living space on a 3,070 sqft lot, it offers a manageable footprint. The home lacks a garage but provides a decently sized urban lot.
Its appeal is grounded in practicality and location. For its immediate area and neighbourhood, the home is consistently "around average" in key metrics like land size, assessed value ($180k), and year built when compared to direct peers. This positions it as a stable, typical option within Chalmers, not an outlier. The renovated basement adds functional living space, which is a significant asset in a home of this size. A thoughtful perspective is that this property suits a buyer who prioritizes a sensible, no-frills entry into the market or a downsizing option, where the value is derived more from the updated condition and neighbourhood fit than from size or luxury features.
It would best suit first-time buyers, investors looking for a manageable rental property, or those seeking a low-maintenance living situation without a large yard or complex structure to care for. The buyer should be comfortable with the character and maintenance considerations of a 110-year-old home, balanced by the recent basement renovation.
Frequently Asked Questions
1. How does this home's value compare to others in Winnipeg?
Citywide, this home's assessed value and living area are below the Winnipeg average, which is typical for its vintage and style. This reflects its position as a more affordable option within the city.
2. What does the "renovated basement" include?
The listing confirms the basement has been renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, legal compliance, and whether it includes features like a separate entrance or bathroom.
3. Is there potential for expansion or adding a garage?
The lot size is near the neighbourhood average, so there may be space for an addition or a detached garage, subject to Winnipeg zoning bylaws and setback requirements. The existing structure's age and foundation would be key factors in assessing feasibility.
4. How does the 2017 sale price relate to the current assessed value?
The home sold for $140k in 2017 and is now assessed at $180k. This increase reflects market changes over seven years. The assessment is used for property tax calculation; the eventual sale price is determined by the current market.
5. What are the main considerations for a home built in 1914?
While updated in areas like the basement, prospective buyers should pay special attention to the condition of original elements. This includes the foundation, plumbing and electrical systems, windows, and roof. A thorough inspection is crucial to understand any needed updates or repairs.