Property Overview: 487 Henderson Highway
Key Characteristics & Appeal
This is a 1,000 sqft, one-and-a-half storey home built in 1945, situated on a 5,019 sqft lot on Henderson Highway in Winnipeg's Chalmers neighbourhood. Its key updated feature is a renovated basement, adding modern living space. The home does not have a garage or pool.
The primary appeal lies in its location and lot. The property offers a substantial, above-average lot size for the Chalmers area, presenting a notable value for land in this part of the city. While the living space is modest and the assessed value is below the citywide average, this creates an accessible entry point. The home’s recent sale history and current assessment suggest it is positioned for buyers looking for a footprint in a well-established neighbourhood, with the potential to update the main living areas over time. It would suit a practical first-time buyer, an investor, or someone looking for a land-value play who is comfortable with a home that has good bones but may require cosmetic updates. Its position directly on Henderson Highway means excellent connectivity, but buyers should consider the implications of main road exposure for noise and privacy.
Frequently Asked Questions
1. What does the "renovated basement" typically include?
While specifics should be verified with a viewing, a renovated basement in a home of this era often means it has been finished into a livable space with proper flooring, drywall, and lighting, potentially adding a recreational room, extra bedroom, or utility space. It's a significant functional upgrade from an original cellar.
2. How does the main road location impact daily living?
Living directly on Henderson Highway provides unmatched convenience for commuting and access to amenities. The trade-off is typically higher traffic noise and less front-yard privacy compared to a side street. This is a key point to experience firsthand during different times of day.
3. The assessed value seems low compared to city averages. Is this a concern?
Not necessarily. The assessment is notably above average for the Chalmers neighbourhood itself, indicating it's a solid property within its immediate context. The lower citywide comparison reflects the neighbourhood's overall market position and the home's modest size, not an individual defect.
4. What are the implications of not having a garage?
Buyers should plan for street parking or the potential cost of adding a driveway and/or a garage in the future. The large lot does provide space for such an addition, subject to local bylaws and permits.
5. The home sold recently in 2022. What does that suggest?
The sale two years prior indicates a relatively short ownership period. It’s wise to inquire about the reason for the sale and to review any disclosures about work done during that time, as it can provide context for the current condition and valuation.