Property Overview: 442 Washington Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1914 on a standard city lot in the Chalmers neighbourhood. Its key characteristics are its modest scale and value-focused positioning. With 845 sqft of living space, a detached garage, and an unrenovated basement, it presents as a straightforward, no-frills property.
The primary appeal lies in its affordability and potential. The assessed value and recent sale price are significantly below Winnipeg's city-wide average, making it one of the most accessible entry points into homeownership in the city. It suits a specific type of buyer: a first-time purchaser, an investor looking for a rental property, or a hands-on individual seeking a manageable footprint. Its smaller size means lower utility costs and less maintenance, which can be a thoughtful trade-off for the right owner. While the home ranks below average for lot size and year built on its own street, it aligns more closely with the averages within the broader Chalmers area, suggesting it's a typical home for this specific community.
Section 2: Frequently Asked Questions
1. What does "below average" for lot size on this street mean?
The lot is 2,944 sqft, which is smaller than many of its direct neighbours on Washington Avenue. However, it is very close to the average lot size for the entire Chalmers neighbourhood (3,432 sqft). This indicates the street may have a mix of larger and more compact lots.
2. Is the low assessed value a concern?
Not necessarily. The assessed value is used for calculating property taxes and is often conservative, especially for older homes that haven't been recently renovated. The consistent increase in sale price from $14.7k in 2016 to $19.5k in 2022 shows a clear trend of growing market value.
3. Who might this property not suit?
It would likely not suit a growing family needing ample bedroom and living space, or anyone seeking a move-in-ready home without renovation projects. The unrenovated basement and the home's age mean future maintenance or updates should be anticipated.
4. How does the age of the home (1914) factor in?
While older than most homes in Winnipeg, it is not an outlier in its immediate area. Homes of this era often have solid construction but will have aging components (like plumbing, wiring, or the foundation) that should be inspected. Its age contributes to its character and its lower price point.
5. What is the context of the "similar properties" listed?
The listed properties with similar assessed values are primarily condominium units or townhouses. This highlights that 442 Washington Avenue offers detached home ownership at a price point comparable to shared-building arrangements, which is a key part of its value proposition.