Property Overview: 367 Martin Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in Winnipeg's Chalmers neighbourhood, built in 1913. Its key characteristics are defined by its modest scale and its position as a value-oriented entry point into the housing market. The living area is 640 sqft, which is notably smaller than most comparable homes locally. It sits on a 2,264 sqft lot, which is also below average for the street and area. The basement exists but is not renovated, there is no garage, and there is no pool. The home last sold in 2016 for $140,000, and its current assessed value is significantly lower than city-wide averages.
The primary appeal lies in its affordability and lot potential. For a buyer comfortable with a smaller footprint or looking for a starter home with minimal overhead, the lower taxes and purchase price are compelling. The lot, while not large, represents the majority of the property's value and could appeal to those with a long-term view, seeing potential for expansion, a garden, or simply holding land in the city. It would suit a first-time buyer, an investor looking for a rental property with a straightforward layout, or someone seeking a minimalist lifestyle without a large mortgage. A less obvious perspective is that its smaller size and older vintage could mean lower utility costs and a simpler, more manageable maintenance routine compared to larger, newer homes.
Section 2: Frequently Asked Questions
1. Is the house in move-in condition?
The listing notes the basement is "not renovated," which suggests the home likely requires some updates or cosmetic work. Prospective buyers should budget for improvements.
2. Why is the assessed value so much lower than the last sale price?
The assessed value ($14,800) is for taxation purposes and is not a market valuation. The 2016 sale price of $140,000 is a better indicator of its market value at that time, though current conditions would determine its price today.
3. What are the expansion possibilities given the lot size?
At 2,264 sqft, the lot is smaller than many in the area but may still allow for a rear addition or extension, subject to local zoning bylaws and setback requirements. It's a key feature to investigate for future potential.
4. How does the smaller living area impact daily life?
At 640 sqft, the floor plan will be compact. This suits individuals, couples, or those comfortable with efficient living, but may feel cramped for a family or those with a lot of possessions. Storage solutions would be a priority.
5. What is the neighbourhood like?
The home is in Chalmers. The provided data shows that for key metrics like living area and lot size, this property ranks below the neighbourhood averages, indicating it is among the more modest homes in the area, which is itself a mixed-income community.