Property Overview
This one-storey home at 325 William Newton Avenue in Winnipeg's Chalmers neighbourhood is a straightforward property defined by its land and value proposition. Built in 1907, the 524 sqft house sits on a 2,837 sqft lot and features a detached garage and an unrenovated basement. Its key appeal lies in its position as an accessible entry point into the market, with a very low assessed value and recent sale price. The home's metrics are consistently below average in size and value compared to its street, neighbourhood, and the wider city, which frames its core characteristic: this is a land play with a modest existing structure.
It would suit a specific type of buyer: an investor or handy first-time buyer looking for a low-cost footprint to build equity through renovation, or someone seeking a minimal-commitment property where the land represents the primary asset. Its low taxes and purchase price reduce the financial barrier to entry significantly. A less obvious perspective is that its small living area and unrenovated state offer a blank canvas without the premium typically attached to "tear-down" lots in more central areas, allowing for gradual improvement or redevelopment without the pressure of a large existing mortgage.
Frequently Asked Questions
Q: Is this essentially a lot with a house included?
A: The data suggests that. With a living area significantly smaller than area averages and a very low assessed value, the property's worth is heavily weighted toward the land itself, with the existing structure adding minimal value in its current state.
Q: What does "below average" in these rankings actually mean for a buyer?
A: It primarily indicates value and opportunity. While the house is smaller and older than many comparables, it also commanded a sale price far below city averages. This translates to lower property taxes and a lower entry cost, but also signals that significant investment would be needed to bring it up to typical standards.
Q: Who is the most likely buyer for this property?
A: It's most suited for an investor, a contractor, or a very budget-conscious first-time buyer willing to live in a project. It is less likely to appeal to someone seeking a move-in-ready home or above-average interior space.
Q: The house is very old. Are there major concerns with that?
A: Any home from 1907 will require careful inspection for foundational integrity, wiring, plumbing, and insulation. The mention of an unrenovated basement warrants particular attention for moisture and structural issues. Its age is a factor in its price and must be factored into renovation plans and budgets.
Q: How does the detached garage affect the property's value?
A: In this context, it's a practical asset. For a small house with likely limited storage, the garage provides essential space for tools, vehicles, or materials for a renovation project. It adds functional utility without significantly inflating the property's price.