Property Overview: 370 Ottawa Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Chalmers presents a solid, updated foundation in a mature neighbourhood. Its key characteristics include a renovated basement, a detached garage, and a notably large lot of over 3,600 sqft for the area—placing it in the top quarter of Ottawa Avenue for land size. Built in 1954, it is newer than most neighbouring homes, and its living space of 1,036 sqft is comfortably above the local average.
The appeal lies in its balance of space, updates, and location value. The renovated basement adds functional living area, while the generous lot offers private outdoor potential rare for the street. Its most recent sale price of $290k significantly outperformed local averages, suggesting buyers have recognized its above-standard offering. This property would suit first-time buyers or downsizers seeking a move-in-ready home with a low-maintenance profile and more outdoor space than typical for the price point. It’s also a practical choice for those who value a detached garage for storage or projects.
A less obvious perspective is the home’s assessed value ($27.9k), which is very low relative to its sale price. This indicates significant renovations and market-driven value not yet reflected in the tax assessment, a potential short-term financial benefit for a buyer.
Section 2: Frequently Asked Questions
1. How does the lot size compare practically?
At 3,602 sqft, the lot is significantly larger than the Chalmers neighbourhood average (~3,432 sqft) and offers more yard space than most properties on Ottawa Avenue. This is a standout feature for gardening, recreation, or future expansion.
2. What does the sale history indicate?
The home sold for $200k in 2020 and $290k in 2022. This substantial increase over two years likely reflects the value of the basement renovation and a strong market at the time. It underscores the property’s recent desirability.
3. Is the home older than others nearby?
No, it’s actually newer. Built in 1954, it is nearly 20 years newer than the average home on its street (avg. year built ~1936) and in the wider Chalmers area.
4. How does the assessed value affect property taxes?
The assessed value for taxation is $27,900, which is very low. Property taxes are calculated using this figure, not the market sale price. This suggests current taxes may be favourable, though a sale often triggers a reassessment.
5. What are comparable homes like?
Nearby listings with similar assessed values vary widely in style and location across Winnipeg, confirming that assessment value is a poor indicator of market value. A better local comparison is 419 Washington Ave, a similarly sized Chalmers home with a comparable assessment that sold for $290k, reinforcing the market valuation for this type of property.