Property Overview: 401 Winterton Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1914, presents a classic character home opportunity on a decently sized lot in Chalmers. Its primary appeal lies in its above-average living space (1,272 sq ft) for both the immediate street and the broader neighbourhood, offering more room than many comparable properties. The lot size is also generous for the area, providing good outdoor potential.
The home suits buyers looking for a project or a long-term hold. It’s ideal for a handy purchaser or an investor who sees value in the existing structure and land, and who is prepared to update the home (including the unrenovated basement) over time. The stable sale history, with the price holding at $230k between 2016 and 2019, suggests a well-priced entry point into the market. A less obvious perspective is that while the home is older than most on its street, this can sometimes translate to more solid construction and classic architectural details not found in newer builds. The assessed value is modest relative to the city-wide average, which may indicate a lower property tax burden.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor where the roofline slopes inward, creating slightly smaller but still fully functional rooms on the upper level.
2. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should budget for potential updates and should have it inspected for moisture, foundation integrity, and mechanical systems.
3. How does the lot size compare?
At just under 4,000 sq ft, the lot is larger than average for both Winterton Avenue and the Chalmers neighbourhood, but smaller than the typical city-wide lot. This means more private outdoor space than many nearby homes, but not an unusually large yard.
4. What is the significance of the assessed value being much lower than the sale price?
The assessed value ($24.7k) is for municipal tax purposes only and is not an indicator of market value. The sale price of $230k reflects the actual market value based on recent transactions.
5. Are there any obvious concerns from the data provided?
The year built (1914) is older than most homes on the street. While this adds character, it necessitates a thorough inspection for aging components like wiring, plumbing, and the roof. The lack of a garage is also a noted feature for buyers to consider.