Property Overview
This 1922 one-storey home on a 4,027 sqft lot in Chalmers presents a classic Winnipeg character property with modern updates. Its key appeal lies in the combination of a renovated basement, a detached garage, and a lot size that is notably larger than most in the area (ranking in the top 23% for the neighbourhood). With 841 sqft of living space, the home is compact but efficient. The assessed value is modest relative to the city, suggesting a potentially accessible entry point into the market.
This property would suit a first-time buyer or an investor looking for a character home with foundational updates in a well-established neighbourhood. It’s also a fit for someone who values a larger outdoor space over a large interior footprint. The rankings indicate it’s a newer and larger home than many on its street, offering a relative advantage within its immediate context.
Key Questions for Consideration
1. What does "renovated basement" specifically include?
It's essential to clarify the scope, permits, and quality of the basement renovation, as finishes and legal compliance significantly impact value and livability.
2. How does the lot size benefit me?
The lot is larger than many in the area, offering more private outdoor space, better potential for gardening, parking, or future additions like a shed or deck.
3. The home is over 100 years old. What should I check?
While the basement is updated, a thorough inspection for the aging roof, foundation, original plumbing, and electrical systems is crucial. The recent renovations may not extend to these core systems.
4. The assessed value seems low. What does that mean?
Municipal assessed value is for tax purposes and often lags behind market value. It suggests property taxes may be relatively manageable, but the sale price will be determined by current market conditions.
5. How does this compare to the nearby reference properties?
Compared to nearby homes, this property has a higher assessed value and more living area than some older, smaller houses, but less space than newer builds. This positions it as a middle-ground option—more updated than some century-old homes but without the square footage of a modern build.