Property Overview: 471 Martin Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This 2019-built bi-level home in Chalmers stands out for its modern construction in an established neighbourhood. Its key appeal lies in being a nearly new property, ranking in the top 2% for year built on its street, which offers move-in readiness and contemporary building standards without the premium of a brand-new subdivision. With 905 sqft of living space, it provides compact, efficient living. The lot size of 2,266 sqft is manageable, placing it around the neighbourhood average, suggesting lower maintenance without sacrificing outdoor space.
The property suits first-time buyers seeking a modern home without a high-rise condo fee, or downsizers looking for a newer, low-maintenance property. A thoughtful perspective is its assessed value ($27.7k), which is above average for the immediate area but well below the city-wide average, indicating a potentially favourable tax position relative to newer parts of the city. The unrenovated basement presents a clean canvas for future expansion. Its last sale was at $360k in 2022, a price point that was among the best for the street at the time, reflecting its desirability as a recent build.
Section 2: Frequently Asked Questions
1. What does "bi-level" mean for this home?
A bi-level typically means living space is split across two main levels, often with a front door opening to a landing between them. This design can offer good separation of living and sleeping areas in a compact footprint.
2. The assessed value seems very low compared to the 2022 sale price. Why?
Municipal assessed value for tax purposes is not the same as market value. It is based on a mass appraisal system and can lag behind rapid market changes. The significant difference here suggests the property's market value has risen considerably since its last assessment.
3. What are the implications of the "unrenovated" basement?
This means the basement is finished to a basic, functional standard but hasn't been upgraded with high-end finishes. It’s a positive for buyers wanting usable space immediately but with the freedom to customize it later to their own taste and budget.
4. How does this home compare to others on the street?
It is notably newer than most. The data shows homes on Martin Avenue W average a build year of 1934, making this 2019 construction a significant outlier. This often translates to modern insulation, wiring, windows, and building codes.
5. Is the lack of a garage a major drawback?
For some buyers, yes. However, the modern build date means the electrical panel is likely equipped to easily handle adding an electric vehicle charger, which can be a consideration for future-proofing, even with only driveway parking.