Property Overview: 361 Talbot Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home is defined by its substantial, mature lot and classic early-1900s character. Its primary appeal lies in the generous 7,268 sqft property, which ranks within the top 4% for lot size on its street and the top 1% within the Chalmers neighbourhood. This presents a significant opportunity for gardening, outdoor space, or future expansion. The one-and-three-quarter storey house itself offers above-average living space for the immediate area at 1,176 sqft.
The appeal is grounded in value and potential. With a recent sale price and assessed value significantly below city averages, it represents an accessible entry point into homeownership, particularly for a lot of this size. It suits buyers looking for a project—whether that’s updating the interior over time, maximizing the expansive yard, or simply securing a property with a vintage foundation in a settled community. A thoughtful perspective is recognizing that while the home is older (built in 1907), this often comes with solid construction and larger lot sizes no longer common in newer developments. The detached garage adds practical utility.
Section 2: Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a classic architectural style where the second floor has slightly less square footage than the main floor, often with sloped ceilings or dormer windows. It typically offers more space and character than a bungalow but a different layout than a full two-storey.
2. The assessed value seems very low compared to the sale price. Why?
Municipal assessed value for tax purposes often lags behind current market values, especially after a recent sale. The assessment is based on historical data and mass appraisal models, while the sale price reflects what a buyer was willing to pay in the present market.
3. Is the large lot a benefit for future resale?
Generally, yes. Larger lots are a finite resource and often hold value well. It can be a major draw for future buyers seeking space, provided the home itself is well-maintained.
4. The basement is noted as "not renovated." What should I consider?
This indicates the basement is in original or functional condition, not modernized. Budget for inspections to assess foundational integrity, moisture control, and the state of mechanical systems (like the furnace or wiring), as updates here can be a significant factor in older homes.
5. How does the older year of construction impact insurance or renovations?
Insurance premiums may be higher, and some insurers may require specific electrical or plumbing updates. For renovations, while you gain character, you may encounter unforeseen costs related to updating older systems or materials, so contingency budgets are essential.