Property Overview: 367 Bowman Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1913, situated on a standard-sized lot in the Chalmers neighbourhood. Its key characteristics are its modest 880 sqft living area, an unrenovated basement, and no garage. The data reveals its primary appeal is as an affordable entry point into the Winnipeg market. Its assessed and recent sale values are significantly below the city-wide average, positioning it as one of the most accessible properties available.
The home would suit a first-time buyer or an investor comfortable with a project. Its value lies predominantly in the land and the structure's potential, not in move-in-ready finishes. A thoughtful perspective is that its very average metrics for the street and area—neither the largest nor the smallest, neither the oldest nor the newest—suggest it's a stable, typical property for Chalmers, offering a straightforward canvas for personalization without the premium or extreme challenges of an outlier property.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" or a renovation project?
Given its age and the note of an unrenovated basement, the home likely requires updates. However, its consistent occupancy (as evidenced by sale history) and average living area for the street suggest it is a functional structure. It is more accurately viewed as a renovation candidate rather than a guaranteed tear-down.
2. How does the lot size impact future potential?
At 2,640 sqft, the lot is around average for the street but below average for the city. This is sufficient for outdoor space and potential additions, but may be subject to specific zoning bylaws regarding coverage and setbacks that should be verified.
3. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's modest size, age, and the market values within the Chalmers area, which are generally lower than the Winnipeg-wide average. This is typical for established, central neighbourhoods with older housing stock.
4. What can the sale history tell us?
The property sold in 2022 for $18,300 and in 2017 for $15,500. This indicates a steady, gradual appreciation in line with a stable, low-price market segment, not volatile speculation.
5. Are the nearby "similar value" properties a good comparison?
The listed similar-value properties are all condo units (noted by unit numbers like "21-403"), while 367 Bowman is a detached house. This underscores that this home offers detached ownership at a price point typically associated with condominiums, which is a key part of its unique value proposition.