Property Overview: 390 Union Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Chalmers presents a practical opportunity centered on value and potential. Its key characteristic is a renovated basement, adding functional living space to the 724 sqft main floor. The lot is a standard city size for the area at 3,442 sqft and includes a detached garage.
The primary appeal lies in its position as an affordable entry point into the Winnipeg market. With a recent sale price significantly below the city average, it suits first-time buyers, investors, or those seeking a lower-cost property with foundational work already started (the basement renovation). It’s a home for someone comfortable with a compact main living area who sees value in the existing update and the possibility of further personalization over time. A thoughtful perspective is that while the living area is modest, the home sits on a proportionately larger lot for its size within the neighbourhood, which could be a long-term asset.
Section 2: Frequently Asked Questions
1. Is the home small compared to others in the area?
Yes. The living area is below the average for both Union Avenue West and the broader Chalmers neighbourhood, making it a more compact dwelling.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent to understand the finish quality and intended use (e.g., living space, suite, utility).
3. How does the property's value trend look?
Based on provided data, the assessed value is consistently below city averages. However, its sale price increased from $140k in 2016 to $160k in 2021, indicating market movement in line with its specific niche.
4. What is the typical home like on this street?
Homes on Union Avenue West are generally of a similar vintage (built around 1940) but often have larger living areas. This property offers a smaller footprint on a similarly sized lot.
5. Are there any obvious red flags from the public data?
The data shows no red flags, but it highlights the home’s context: it is an older (1944), smaller-than-average home for the street, with a correspondingly lower assessed value. This isn't a drawback, but it accurately sets expectations for the type of property.