Property Overview & Key Characteristics
This two-storey home at 375 Union Avenue W in Winnipeg's Chalmers neighbourhood presents a unique and modern offering in an area of much older homes. Built in 2022, it is a standout property with a completely renovated basement. Its 1,401 sqft of living space is notably larger than most homes on its street and in the immediate area. The lot size of 2,264 sqft is more compact, which translates to lower exterior maintenance. The home’s assessed value is among the highest locally, reflecting its new construction and condition.
Its primary appeal lies in being a modern, move-in-ready home without the premium price tag of a new build in newer subdivisions. It suits first-time buyers seeking a modern layout without renovation work, downsizers who want a newer, low-maintenance property without leaving the city, or investors looking for a recently built rental property with modern amenities. A thoughtful perspective is that this home offers a "best-in-class" standard within its immediate locale, providing modern comfort while the neighbourhood itself may offer more affordable property taxes and a established community feel compared to burgeoning suburbs.
Frequently Asked Questions
1. How does such a new home exist in this neighbourhood?
It is a notable exception. Data shows the average home year built on this street is 1940 and in Chalmers is 1934, making this 2022 build a rarity. It likely replaced an older structure.
2. Is the lot size a concern?
The land area is below average for the street, neighbourhood, and city. This is a trade-off: it means less yard maintenance but also less private outdoor space. It aligns with a low-maintenance lifestyle.
3. Why is the assessed value so high compared to neighbours?
The assessed value ranks in the top 1% for the street and area because it is based on the home's new condition, modern features, and recent sale price. It reflects the property's premium status within this specific market.
4. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify finishes or layout. This should be verified in a viewing to understand if it is a finished living space, a rental suite, or updated utilities and storage.
5. How does the sale history inform the current value?
The home sold for $47,100 in July 2022, which is very recent. This sale, close to its current assessed value, provides a strong, concrete benchmark for its market worth, suggesting stable value in a short timeframe.