Property Overview: 386 Martin Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Chalmers is a straightforward property that presents a clear value proposition centered on land and location. Built in 1920, its 701 sqft living area is compact, and the basement is noted as unrenovated. It includes a detached garage and sits on a 2,264 sqft lot.
The primary appeal lies in its affordability and potential. With a historically low sale price and assessed value significantly below city averages, it represents one of the most accessible entry points into the Winnipeg market. This isn't a move-in-ready showcase home; its value is as a foundation. The lot size, while below average for the street, is still a usable parcel in an established neighbourhood. It would suit a practical first-time buyer comfortable with a project, an investor looking for a land-value play with a rental structure in place, or someone seeking to minimize their mortgage footprint outright. Its charm is in its simplicity and the opportunity it provides for customization or future investment without a premium price tag.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the living space is small and the home is older, it is a functional dwelling. The decision to renovate, expand, or redevelop would depend on the buyer's goals, budget, and the specific condition of the structure, which should be verified via inspection.
2. Why is the sale price so much lower than the assessed value?
The listed sale price of $14.5k is from 2021 and is historical data, not the current asking price. The current assessed value for taxation purposes is $150k. Any current listing price would be set by the seller and should be confirmed on the active listing.
3. What is the neighbourhood like?
Chalmers is a long-established, no-frills neighbourhood in Winnipeg. The property rankings show homes here typically have smaller lots and lower values than the citywide average, indicating a more affordable, working-class area. Prospective buyers should visit to gauge the community feel and amenities for themselves.
4. How does the lot size compare?
At 2,264 sqft, the lot is smaller than most on Martin Avenue W and in Winnipeg overall. However, it is still a standard city lot for the area, offering adequate outdoor space for parking, a garden, or a small addition without the maintenance burden of a larger plot.
5. What are the immediate costs or projects to consider?
The unrenovated basement is a noted consideration, potentially requiring moisture management, insulation, or structural updates. As a home from 1920, systems like wiring, plumbing, and the roof should be carefully evaluated to understand any immediate updates needed for safety and efficiency.