Property Overview
This one-storey home at 462 Ottawa Avenue is a classic 1922 build on a standard 3,001 sqft lot in the Chalmers neighbourhood. Its key appeal lies in its position as an affordable, no-frills entry point into the Winnipeg market. The 680 sqft living area is compact, and the home features an unrenovated basement and no garage. Recent data shows it sold for $20,900 in late 2024, closely aligned with its assessed value.
The property suits practical, value-conscious buyers. This includes first-time purchasers seeking minimal financial overhead, investors looking for a straightforward rental property, or individuals interested in the land itself for future redevelopment. Its lot size is typical for the street, offering potential down the line, while the current home provides basic shelter. It’s a pragmatic choice for those comfortable with a property that requires work or who prioritize location and lot over modern finishes and square footage.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the home is small and older, it is functional. Its value is a balance between the usable existing structure and the potential of its standard-sized lot. It could serve as a starter home while longer-term plans are considered.
2. How does the assessed value compare to the sale price?
The sale price of $20,90k was slightly above the $15.50k assessed value, which is common. The assessment is for taxation purposes, while the sale price reflects the current market agreement between a specific buyer and seller.
3. What does "below average" for living area mean practically?
At 680 sqft, the living space is significantly smaller than the Winnipeg average. This means efficient use of space is essential. It's workable for a single person, a couple, or as a minimalist living setup, but would feel cramped for a family.
4. The home has no garage. What are the parking options?
The property listing does not specify dedicated parking. Buyers should investigate on-street parking permits, regulations, and typical availability on Ottawa Avenue directly with the city.
5. What is the significance of the lot size rankings?
The lot is around average for the immediate area but below average citywide. This indicates the neighbourhood character consists of modestly sized lots. For this property, the lot offers standard suburban space for its location but isn't unusually large.