Property Overview
This two-storey home at 425 Union Avenue W in Winnipeg's Chalmers neighbourhood presents a distinct value proposition. Its key appeal lies in being a modern structure in an area of much older homes. Built in 2015, it is newer than approximately 97% of homes on its street and in the wider neighbourhood, offering contemporary construction benefits like updated electrical and plumbing systems. With 1,145 sqft of living space, it is notably larger than most comparable local properties. The home sits on a standard city lot and features an unrenovated basement, with no garage or pool.
This property would suit a practical, value-conscious buyer looking for a low-maintenance, modern footprint without the premium price tag of a new suburban build. It's also a compelling option for an investor seeking a relatively new rental property in an established area, as its assessed value and recent sale price are significantly below the Winnipeg city average, suggesting strong potential rental yield.
Frequently Asked Questions
1. Why is the assessed value and sale price so much lower than the Winnipeg average?
The price reflects the local market in the Chalmers neighbourhood, where property values are generally lower than the citywide average. It is not indicative of the home's condition, but rather its location.
2. What does "basement, not renovated" imply?
The basement is unfinished. It provides valuable storage or utility space but would require investment to be converted into livable rooms like a rec room or bedroom.
3. How does the lack of a garage affect daily living?
Parking will be on-street. This is common for the area, but buyers with multiple vehicles or who prioritize sheltered parking should factor this in.
4. The home is newer than almost all its neighbours. What are the pros and cons of this?
A major pro is modern building materials and systems, which can mean lower immediate repair costs and better energy efficiency. A potential con is that the home's architectural style and lot size may differ from the established character of the surrounding century-old homes.
5. Is the land size a positive or a negative?
At 3,242 sqft, the lot is typical for the street and neighbourhood. It provides a standard backyard space but is below the much larger citywide average. It suits those wanting manageable outdoor maintenance rather than extensive grounds.