372 Jamison Avenue

Property Overview: 372 Jamison Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1914 on a standard-sized lot in the Chalmers neighbourhood. Its key characteristic is its modesty: with 660 sqft of living space, an unrenovated basement, and no garage, it represents a straightforward entry point into the Winnipeg market. The appeal lies primarily in its land value and location. The lot size is typical for the immediate street but becomes more notable in a city-wide context, offering potential for future expansion or outdoor space relative to many newer properties. With a recent assessed value around $17,300, it sits in the middle range for its local area, suggesting a stable, no-frills investment rather than a premium-priced asset.

This property would suit a specific type of buyer: a hands-on first-time purchaser or investor comfortable with a home that needs updates and offers minimal finished space. It’s a practical choice for someone whose priority is securing a land parcel in the city at a lower price point, with the understanding that the existing structure provides basic shelter but significant room for improvement. A thoughtful perspective is that its very ordinariness on the street is an asset—it’s not an outlier in price or condition, which can provide a realistic foundation for building equity through careful, incremental upgrades.

Section 2: Frequently Asked Questions

1. What is the true cost of entry here?
Beyond the sale price, buyers should budget for updates to an older home. The basement is noted as unrenovated, and the living area is compact, so immediate investments in essential systems, insulation, or layout efficiency are likely.

2. How does the lot size compare meaningfully?
While the 2,545 sqft lot is around average for Jamison Avenue, it is significantly larger than the lot many newer infill properties are built on city-wide. This offers more private outdoor space and potential for additions, subject to zoning.

3. What does the sale history indicate?
The home sold for $19,200 in mid-2021 and for $9,500 in late 2017. This recent increase aligns with broader market trends and suggests the property has maintained its basic market value as a land asset.

4. Is the assessed value a reliable indicator of the sale price?
Not directly. The assessed value ( $17.3k ) is for municipal tax purposes. Sale prices are market-driven. The 2021 sale at $19.2k provides a more current benchmark, but conditions have changed since then.

5. Who are the typical neighbours or comparable buyers?
Nearby properties vary from similarly valued older homes to a newly built residence assessed at $340k just down the street. This indicates a neighbourhood in transition, attracting both budget-conscious buyers and those building new, which can affect future street dynamics and values.