Property Overview: 484 Tweed Avenue, Winnipeg
Key Characteristics & Appeal
This 1951 one-storey home in Chalmers presents a unique value proposition centered on its land and location. Its primary appeal lies in the generous 5,505 sqft lot, which is significantly larger than most in both the immediate area and the wider neighbourhood, ranking in the top 11% on its street. This offers substantial outdoor space and potential in a well-established community. The home itself is modest at 832 sqft of living space, but features a renovated basement, adding functional square footage. It includes a detached garage.
The property suits practical, value-oriented buyers. It’s ideal for someone seeking an entry point into homeownership with a premium lot size, or an investor looking for a property with land value and renovation potential. The historically low assessed and sale prices indicate a lower financial barrier to entry, but the below-average city-wide rankings for living area and value suggest a compact home in a more affordable market segment. A thoughtful perspective is that this property trades interior square footage for exterior space and neighbourhood positioning, appealing to those who prioritize yard over house size.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. The lot is notably larger than typical properties on Tweed Avenue and in the Chalmers area, offering more private outdoor space than you’d find in most comparable listings.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the extent or finish. This should be verified during a viewing to understand the quality and layout of the additional space.
3. Who is this home most suitable for?
It's well-suited for first-time buyers, downsizers seeking a manageable home with a large yard, or investors. The modest living area may not fit growing families unless expansion is planned.
4. How does the assessed value compare to recent sale prices?
The current assessed value ($24.3k) is slightly higher than the last recorded sale price in 2021 ($22.6k). This is common, but it's important to note both figures are significantly below Winnipeg city-wide averages, reflecting the property's scale and market segment.
5. Are there any concerns about the home's age?
Built in 1951, the home is older than the Winnipeg average. While the basement has been renovated, a thorough inspection is recommended to assess the condition of major systems like plumbing, electrical, and the foundation.