483 Martin Avenue W

Property Overview

This 2018-built bi-level home at 483 Martin Avenue W in Winnipeg's Chalmers neighbourhood presents a distinct profile. Its key appeal lies in its modern construction, being newer than 98% of homes on its street and in its area. The home features a renovated basement and a living area of 790 sqft, which is typical for the immediate locale. The lot size of 2,266 sqft is also around average for the street. Notably, its assessed value ranks significantly above average for both the street and the neighbourhood, though it sits below the city-wide average. This suggests a property that is modern and well-regarded in its specific, established community context.

It would suit a buyer looking for a low-maintenance, newer build in a mature neighbourhood without paying a premium for a large lot or extensive square footage. It's a practical choice for a first-time homebuyer, a downsizer, or an investor seeking a modern property with a renovated basement in a long-established area.

Key Questions & Considerations

1. Why is the assessed value so much higher than nearby homes on the same street?
The primary reason is the home's age. Built in 2018, it is decades newer than most neighbouring properties, which were built in the early 1900s. Modern construction standards, systems, and materials typically result in a higher valuation.

2. Is the living space sufficient for a growing family?
At 790 sqft, the living area is compact. The bi-level design and renovated basement likely provide additional functional space, but buyers should consider if the above-ground footprint meets their long-term needs for a family.

3. What are the implications of not having a garage?
This means all parking will be on-street or via a potential driveway (if space permits). Buyers should consider vehicle security, winter convenience, and storage needs, as the basement may become crucial for storing seasonal items.

4. How does the lot size compare, and what does it allow?
The lot is average for the street but below average for the wider city. It provides adequate outdoor space for a patio or small garden but may not accommodate large additions or extensive landscaping. This can mean less yard maintenance.

5. The home sold very recently (December 2023). What should I ask about this?
It's important to inquire why it is back on the market so quickly. This could be due to a change in the owner's circumstances, but it warrants understanding if there were any undisclosed issues or if the current sale is part of a flip or investment strategy.