Property Overview
This one-and-a-half storey home, built in 1914, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its efficient use of space and its position as an affordable entry point into the market. With 1,041 square feet of living area, the home offers more interior space than many comparable houses on its street and in the immediate area. It sits on a 2,315 sqft lot, which is modest for the city but typical for this older, established part of Winnipeg. The property features a basement, though it is noted as not being renovated, and there is no garage or pool.
The home suits first-time buyers, investors, or downsizers seeking a straightforward, lower-maintenance property with minimal upfront tax obligations, as reflected in its assessed value. Its appeal is grounded in fundamentals rather than luxury: it's a compact, character home in a mature neighbourhood where the value is in the structure and location, not in extensive land or modern finishes. A thoughtful perspective is that this type of property often appeals to those who prioritize financial flexibility—the lower property taxes and purchase price free up capital for renovations, savings, or other investments. It’s a home for a pragmatic buyer who sees potential in a solid, older build without the premium price tag of a larger lot or a fully updated interior.
Frequently Asked Questions
1. What does "one-and-a-half storey" typically mean for a home of this era?
It usually indicates a home with a main floor and a second floor under a sloped roof, where the upper rooms may have lower ceilings or dormer windows. This efficient design often creates cozy, character-filled spaces.
2. The assessed value seems very low compared to city-wide averages. Why is that?
The assessed value is for municipal tax purposes and is based on a mass appraisal system considering factors like location, age, size, and market trends. It reflects the home's value relative to similar properties in its specific area, not necessarily its potential sale price in the open market.
3. The basement is noted as "not renovated." What should I expect?
For a home built in 1914, this typically means a traditional concrete or stone foundation basement with original mechanical systems (like the furnace and plumbing). It likely has functional space for laundry and storage but would require updating to become a finished living area.
4. How does the lot size impact this property?
At 2,315 sqft, the lot is manageable and low-maintenance, which can be a benefit. However, it may limit expansion possibilities or the addition of larger outdoor amenities like a detached garage or extensive decking, compared to properties on larger lots.
5. The home last sold in 2016. Should that be a concern?
Not necessarily. A sale eight years ago suggests a period of stability. It’s more important to understand why the current owner is selling and to review any changes or maintenance done during their ownership. A title search and disclosure statement will provide clarity.