Property Overview
This one-storey home at 309 Winterton Avenue in Winnipeg's Chalmers neighbourhood presents a specific and straightforward opportunity. Built in 1914, it sits on a roughly 3,000 sqft lot. The home itself offers 1,012 sqft of living space, which is notably above average for other homes on its street. Its most defining characteristic is its very low assessed value, which is among the lowest in its immediate area and city-wide.
The primary appeal lies in its potential as a land-value proposition or a foundational project for a hands-on buyer. The combination of a decent-sized lot in an established area with a low entry price is its key draw. It would best suit a buyer looking for a lot to build on, an investor comfortable with a significant renovation or rebuild, or someone seeking the absolute most affordable entry into homeownership with a willingness to invest considerable sweat equity. A thoughtful perspective is that, while older and modest, its above-average living area for the street suggests the existing structure may have more inherent utility than some neighbouring properties, potentially offering a head start for a renovator compared to a true tear-down.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The assessed value is for taxation purposes and is often calculated using mass appraisal techniques. The sale price reflects the current market value, which for this property is likely driven more by its land value and redevelopment potential than by the existing structure's condition or features.
2. What does "no basement" mean for this home?
This typically indicates a slab-on-grade foundation. This can mean lower maintenance concerns related to basement moisture or flooding, but it also eliminates potential for finished below-ground space and may affect heating system and storage options.
3. Is this a good option for a first-time buyer?
It could be, but with important caveats. The low price point is accessible, but the age of the home means buyers must be prepared for potential repair costs, updates, and possibly higher insurance premiums. It is best suited for a first-time buyer with renovation skills, a flexible timeline, or a very conservative purchase budget who prioritizes lot over move-in-ready condition.
4. How does the lot size compare?
At just under 3,000 sqft, the lot is around average for the Chalmers neighbourhood and on Winterton Avenue itself, but it is significantly smaller than the average city-wide lot. This indicates a typical, manageable yard size for the area.
5. The home sold recently in 2022. What might that indicate?
The previous sale two years prior suggests a relatively quick turnaround. This could indicate investor activity, a change in plans by a renovator, or simply a market transaction. Reviewing the sale history (not provided here) for patterns would be advisable to understand any recurring issues or rapid resale trends.