Property Overview
This one-and-a-half storey home, built in 1914, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. With 993 square feet of living space and a full, unrenovated basement, it sits on a 2,879 sqft lot that is typical for the local area. The property last sold in 2020 for $140,000 and carries a notably low assessed value. It does not include a garage or pool. Its appeal lies in its position as an affordable entry point into the market, offering a classic Winnipeg footprint with the potential for personalization. It would suit first-time buyers, hands-on investors looking for a value-add project, or those seeking a modest, low-carry-cost property. A less obvious perspective is that its very low assessment, while reflecting its condition, could represent a relative tax advantage compared to more updated homes nearby. Additionally, its lot size, while average for the street, is larger than many in the broader neighbourhood, offering a bit more outdoor space than some comparable options.
Frequently Asked Questions
What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped roof lines, often creating cozy bedrooms with potentially reduced ceiling height in parts. It's a classic Winnipeg design from its era.
How should I interpret the low assessed value?
The assessed value is significantly below city and area averages, which generally reflects the home's age, condition, and the fact the basement is unrenovated. It's important to distinguish this from market value, which is determined by what a buyer is willing to pay.
Is the lot size a pro or a con?
It depends on your priorities. The lot is larger than many in the Chalmers area, which is a plus for outdoor space. However, it is smaller than the citywide average, so expectations should be set for an urban-sized yard, not an expansive one.
What can be inferred from the 2020 sale price?
The $140,000 sale price four years ago, coupled with the current low assessment, suggests this has been a value-priced property. It underscores the home's role as an affordable option, but a current market evaluation is essential for today's pricing.
Who would this property not suit?
It would likely not suit buyers seeking a move-in-ready home without any projects, those requiring ample storage (as there's no garage), or families needing significant square footage and modern, open layouts.