Property Summary: 386 Jamison Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1914, situated on a standard-sized lot in the Chalmers neighbourhood. Its key appeal lies in its position as an affordable entry point into the Winnipeg market, with a recent sale price under $16,000. The home is modest in scale, with 680 sqft of living space and an unrenovated basement, presenting it primarily as a land-value proposition or a foundational project.
The property would suit a specific type of buyer: investors or handy purchasers looking for a low-cost holding with future redevelopment potential, given that the land value is a significant component of the price. It’s less suited for those seeking a move-in-ready or spacious family home. A thoughtful perspective is that, while its size and condition are below city averages, its metrics are much more typical for its immediate street and area, indicating it fits the local context of older, smaller homes. This can represent stability rather than disadvantage for the right buyer.
Section 2: Frequently Asked Questions
1. Is this a live-in ready home?
No. The listing notes an unrenovated basement, and the small living area (680 sqft) suggests a home that would likely require significant updates for comfortable modern living.
2. Why is the sale price so much lower than the city-wide average?
The price reflects the home's smaller size, age, and condition. It is priced in line with similar, very modest properties in the local area, not with the broader Winnipeg market which includes newer and larger homes.
3. What is the potential here for an investor?
The primary potential is in the land value and future redevelopment (e.g., building a new home), or as a rental property after renovations. Its low entry cost minimizes initial capital outlay.
4. How does this property really compare to its neighbours?
The data shows it is consistently around or slightly below average for Jamison Avenue and Chalmers in terms of lot size, year built, and value. This means it is a typical, not an outlier, property for this specific locale.
5. Has the property value been stable?
The two recorded sales (2019 and 2024) show a slight increase from $15,200 to $15,800, suggesting very modest appreciation in a stable, affordable price range over that five-year period.