Property Overview
This two-storey home, built in 1913, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in the balance of a recently renovated basement and above-average interior living space for its immediate area, all at a price point significantly below the citywide average. The home sits on a modestly sized lot and does not include a garage.
Key Characteristics & Ideal Buyer
The house offers 1,092 sqft of living area, which is notably more spacious than many comparable homes on its street and in the Chalmers area. This makes it a sensible choice for small families, first-time buyers, or downsizers seeking comfortable interior space without a large property footprint. The renovated basement adds functional living or storage space, a valuable update in a home of this age.
Its appeal is grounded in value and efficiency. The sale price and assessed value are consistently below city averages, suggesting an accessible entry point into the market. The property suits a buyer with a realistic budget who prioritizes interior space and modernized essentials over a large yard or newer construction. It’s a home for those comfortable with the character and maintenance considerations of a century-old structure, who see the value in its established neighbourhood setting.
Frequently Asked Questions
1. How does the lot size impact this property?
The land area is smaller than most in the city, which typically means less exterior maintenance. This can be a benefit for buyers seeking a manageable yard, but it limits potential for large additions or extensive outdoor living spaces.
2. What does the "renovated basement" likely entail?
While specifics aren't listed, in a 1913 home this often means foundational updates like moisture control, insulation, and finished living space. It's a significant plus, but buyers should still inquire about the permit history and the scope of the renovation.
3. The assessed value is much lower than the sale price. Why?
Municipal assessed value for tax purposes often lags behind market value and is calculated differently. The sale price reflects the current market agreement between buyer and seller, which can be influenced by factors like the renovated basement and recent sales of similar homes.
4. Are there any concerns with a home built in 1913?
While the renovated basement is a positive, potential buyers should pay special attention to the condition of original components like the roof, wiring, plumbing, and foundation. A thorough inspection is essential to understand any needed updates.
5. How does this home compare to others on the street?
It has a larger living area than most neighbours, but a smaller lot and an older build date. This indicates it may offer better interior utility but potentially less outdoor space or more vintage features than some nearby properties.