Property Overview: 295 Washington Avenue, Winnipeg
Key Characteristics & Appeal
This well-maintained one-and-a-half storey home in Chalmers presents a compelling blend of space, updates, and location-based value. Its key strength is its generous living area of 1,403 sqft, which ranks in the top 5% for its immediate street and offers significantly more interior space than most neighbouring homes. The property sits on a larger-than-average lot for the area (4,403 sqft), providing ample outdoor space. A recently renovated basement and a detached garage add practical, modern utility to the classic 1946 build.
The appeal lies in its "best on the block" stature regarding interior size, paired with a below-average citywide assessed value that suggests a solid value proposition for the neighbourhood. It suits buyers looking for a character home with room to grow, without the premium price tag of newer or centrally assessed areas. It’s ideal for a first-time buyer or small family seeking more square footage than is typical in Chalmers, who values a finished basement and private outdoor space over a brand-new build or attached garage.
A less obvious perspective is that its strong sale price relative to the area indicates it’s already recognized as a premium property on its street, so future appreciation may be more closely tied to broader neighbourhood growth than catching up to peers.
Frequently Asked Questions
1. How does the recent sale price compare to the assessed value?
The home sold for $350,000, which is substantially higher than its $26,400 assessed value. This is common, as municipal assessments for tax purposes often lag behind current market values, especially for updated homes in transitioning areas.
2. Is the living space configuration typical for a one-and-a-half storey?
Yes, the generous 1,403 sqft is notable. This style often features main-floor living areas and bedrooms on a second, sloped-ceiling floor. The size indicates a more spacious layout than many similar homes, which average under 1,000 sqft in this immediate vicinity.
3. What does the lot size mean for potential additions or landscaping?
At 4,403 sqft, the lot is above average for Chalmers. This provides good potential for gardening, outdoor recreation, or future additions like a deck or shed, subject to local zoning bylaws.
4. The home is older—what should I consider?
Built in 1946, the core structure is 80 years old. While the basement has been renovated, a thorough inspection is recommended to review the condition of original components like the roof, wiring, plumbing, and foundation, which may require maintenance or updating.
5. How does this property rank for investment or resale?
Its sale price ranked in the top 3% for the neighbourhood, showing it commands a premium. Its appeal is specific: buyers seeking above-average space in Chalmers. Resale may depend less on outperforming immediate neighbours (it already does) and more on the overall desirability and development of the Chalmers area.