Property Overview
This one-storey home at 378 Ottawa Avenue in Winnipeg's Chalmers neighbourhood is a compact, century-old property built in 1914. Its key appeal lies in its land value and affordability. With a modest 584 sqft living area, the home itself is significantly smaller than local averages, suggesting it may be best suited for renovation, expansion, or as a starter home with land potential. The detached garage and a 3,002 sqft lot that is above average for the immediate street add practical value. The most recent sale was in 2018 for $150,000, with a current assessed value notably lower than city-wide averages.
This property would likely suit a first-time buyer, an investor looking for a land-hold opportunity, or a hands-on individual interested in a manageable project. Its lower taxes, due to the low assessment, are a practical advantage. A less obvious perspective is that its smaller size and older vintage, while requiring attention, offer a chance to create a custom, efficient living space without the premium of a larger, turn-key home.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the living area is small and the home is over 110 years old, it has been maintained and was occupied as recently as 2018. It could be a live-in renovation project or expanded upon, given the lot size.
2. Why is the assessed value so much lower than the last sale price?
The assessed value of $15,900 is for taxation purposes and is based on a municipal formula, not current market value. The 2018 sale price of $150,000 is a more relevant indicator of its market worth, though conditions have changed since then.
3. What are the real costs beyond the purchase price?
Given the age, budgeting for updates to major systems (like plumbing, wiring, or insulation) is prudent. However, property taxes will be relatively low due to the low assessed value.
4. How does the lot size compare to others?
The land is a key feature. At just over 3,000 sqft, it's larger than many lots on Ottawa Avenue and in Chalmers, but below the Winnipeg average. This provides decent outdoor space and potential for additions or a garden in an established neighbourhood.
5. What is the neighbourhood like?
Chalmers is a long-established, central Winnipeg neighbourhood. The immediate area consists of similar older homes, offering a sense of community and maturity. Buyers should explore the specific block and nearby amenities to ensure it fits their lifestyle.