Property Overview
This renovated one-storey home on Bowman Avenue in Winnipeg's Chalmers neighbourhood presents a specific and compelling value proposition. Its key appeal lies in the combination of a recently updated basement and a lot size that is generous for its immediate area. At 3,399 sqft, the land is notably larger than most lots on its street and in the Chalmers area, offering above-average outdoor space potential. The home itself, built in 1954, is newer than many in the vicinity, but with a modest 724 sqft of living space, it prioritizes lot size over interior square footage.
This property would suit a pragmatic, value-oriented buyer. It's ideal for a first-time homeowner comfortable with a smaller main-floor footprint who values a renovated basement for extra living space and the rare perk of a detached garage. It also appeals to an investor or builder who recognizes the underlying value in a lot that is significantly larger than its neighbours, viewing the existing structure as a solid foundation with future potential.
Frequently Asked Questions
1. Is the basement a legal suite?
The listing notes a renovated basement, but it does not specify if it is a legal, rentable secondary suite. This is a crucial point to verify with the seller and the city for potential rental income or mortgage helper scenarios.
2. How does the assessed value compare to the sale price?
The property recently sold for $23,800, which is virtually identical to its last assessed value of $23,900. This close alignment suggests the sale was seen as fair market value and may indicate stability in the local pricing for homes of this type.
3. The living area seems small. How does the layout work?
With 724 sqft on the main floor, the home's functionality relies heavily on the renovated basement. Buyers should consider how the combined spaces flow for daily living and whether the layout meets their needs, as the main floor alone is compact.
4. What does the lot size ranking actually mean for me?
While the lot is "below average" citywide, it's in the top 29% on its own street. This means you're getting more private outdoor space than most homes in the immediate area, a relative advantage for gardening, play, or expansion that may not be apparent from city-wide data.
5. What is the typical buyer or tenant profile for this street?
The home's size, lot, and recent sale price point towards a neighbourhood of modest, well-kept homes. It likely attracts practical buyers, long-term residents, and potentially young families or individuals looking for an affordable entry point into the market with a bit of extra yard space.