Property Overview
This one-and-a-half storey home at 338 Washington Avenue in Winnipeg's Chalmers neighbourhood presents a practical opportunity. Built in 1948, it sits on a notably spacious 4,430 sqft lot, which is well above average for both the street and the area. The 1,280 sqft living area is also generous compared to nearby homes. Key features include a renovated basement and a detached garage. Its most recent sale was in August 2022 for $32,500, and it holds a current assessed value of $27,700.
Key Characteristics & Appeal
The primary appeal of this property lies in its land size and the scale of the home relative to its immediate peers. The lot is a standout feature, offering ample outdoor space that is uncommon for the locale. The renovated basement adds functional living space, a valuable asset in a home of this vintage. The detached garage provides flexible storage or workshop potential.
It would suit a value-conscious buyer looking for a home with "good bones" and room to grow on a sizable lot, potentially a first-time homeowner, an investor, or someone willing to take on a property that may require updates. A thoughtful perspective is that while its assessed value is modest citywide, it ranks highly within its own neighbourhood, suggesting it may represent solid intrinsic value in its local market context. Its appeal is less about luxury finishes and more about foundational space and potential.
Frequently Asked Questions
1. What does the "above average" ranking for lot and living area actually mean?
It means that compared to most homes directly on Washington Avenue and in the Chalmers neighbourhood, this property has a larger lot and more interior space. This is a relative strength within its local market.
2. Why is there a significant difference between the 2022 sale price and the current assessed value?
Assessed value for tax purposes and market sale price can differ. The sale was two years ago, and market conditions, property condition, or specific terms of that sale can influence the price. The assessment offers a separate, standardized valuation benchmark.
3. What might be less obvious considerations with a home built in 1948?
While the basement is renovated, the core systems of the house (like plumbing, electrical, and the structure itself) are over 75 years old. Prospective buyers should budget for potential updates and have thorough inspections to understand the condition of these older components.
4. The home is described as "one-and-a-half storeys." What does that typically imply?
This style often features a main floor with principal rooms and a second floor under sloping rooflines, which may have smaller rooms or cozier ceilings. It's a classic Winnipeg design that maximizes space efficiently.
5. How does the detached garage impact the use of the large lot?
A detached garage provides flexibility. It can be used purely for vehicle storage, converted into a workshop or studio, or even left in place while allowing significant remaining yard space for gardening, recreation, or future expansion.