Property Overview
This one-and-a-half storey home, built in 1914, presents a straightforward opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its land value and location-specific context. With a 3,298 sqft lot, the property offers a generous parcel of land for the immediate area, ranking above average on its street and in the neighbourhood. The living space is a modest 953 sqft, and the home includes a basement that has not been renovated. There is no garage or pool.
The property suits a specific type of buyer: those looking for a land play, a renovation project, or an entry point into homeownership with a focus on future potential rather than immediate move-in condition. Its very low assessed and recent sale values indicate it is likely a fixer-upper. A thoughtful perspective is that while its metrics appear "below average" citywide, they are generally "around average" for its own street and neighbourhood, suggesting it is a typical property for this specific, more affordable part of Winnipeg. Its value is intrinsically tied to the land and the buyer's vision for improvement.
Frequently Asked Questions
1. Is this a teardown or a renovation project?
Given the age (1914), modest size, and the note of an unrenovated basement, the property is likely positioned as a major renovation project. The value is heavily weighted toward the land, but the existing structure could be updated depending on its condition and the buyer's goals.
2. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the property's current state and market value within its specific location. Chalmers and this particular street have notably lower average property values compared to the entire city of Winnipeg, which includes many newer and more affluent areas.
3. What does the land size mean for me?
At 3,298 sqft, the lot is larger than many in the immediate vicinity. This provides more outdoor space than neighbouring properties and could allow for future additions, a garden, or landscaping projects that wouldn't be possible on a smaller lot.
4. The home sold recently. What does that indicate?
The sale in December 2023 for $15,300 suggests a very rapid turnover or an investment purchase. It underscores the property's status as a project and may indicate active interest in the block from investors or renovators.
5. Are the "below average" citywide rankings a concern?
Not necessarily for the right buyer. These rankings show the home is not comparable to the broader Winnipeg market, which is dominated by newer, larger suburban homes. Its "around average" standing within Chalmers itself means it is typical for this affordable, established neighbourhood.