Property Summary: 350 Union Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, historic one-and-three-quarter storey home in Winnipeg's Chalmers neighbourhood, built in 1903. With 898 square feet of living space on a 3,444 sqft lot, its scale is modest and typical for its immediate area. The home’s primary appeal lies in its extremely low financial barrier to entry, as evidenced by its recent sale price of $12,500 and a low assessed value. It has no basement, pool, or garage.
This property would suit a specific type of buyer: an investor or very hands-on purchaser looking for a land-value opportunity or a foundational project. It’s less suited for someone seeking a move-in-ready home and more for those with a vision for infill development, a careful renovation, or who are primarily acquiring a strategic location. A thoughtful perspective is that its age and condition present a clear canvas, but they also mean that modernizations and major systems (like heating, electrical, or plumbing) likely require immediate attention or complete replacement. Its value is fundamentally in the land and the potential, not in its current state.
Section 2: Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for older Winnipeg homes. It typically means the second floor has sloped ceilings (following the roof line) and potentially dormer windows, creating full but sometimes cozier living spaces upstairs compared to a full two-storey design.
2. Why is the sale price so much lower than the city-wide average?
The price reflects the home’s age, modest size, likely need for significant updates, and the absence of features like a basement or garage. It represents a value proposition centred on land and location rather than a finished dwelling.
3. What are the implications of having no basement?
This affects utility placement (furnace, water heater), storage options, and potential for additional living space. It may simplify some foundation concerns but also means all mechanical systems are within the home's main living footprint.
4. How significant is the 1903 build date?
Very significant. A home this old will have unique character but almost certainly requires specialized knowledge for renovations. Prospective buyers should budget for updates to meet modern building, insulation, and electrical standards, and should prioritize a thorough inspection for structural integrity.
5. Is the low assessed value a positive?
It has two sides. It suggests lower property taxes, which is a benefit. However, it also officially confirms the property’s current market valuation is very low compared to the broader city, often due to condition or functional obsolescence. Financing a purchase or renovation on a property with such a low appraisal can be challenging with traditional lenders.