Property Overview: 487 Martin Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1927, situated on a standard-sized lot in the Chalmers neighbourhood. Its key features include a renovated basement and a detached garage. The home’s primary appeal lies in its affordability and efficiency, as reflected in its below-average sale price and modest 707 sq ft living area. It represents a straightforward, lower-maintenance property in a mature community.
The data suggests it suits specific buyer profiles well. First-time buyers or investors looking for an entry point into the market with a manageable footprint and renovation potential (particularly with the basement already updated) will find it compelling. It’s less suited for those needing significant space. A thoughtful perspective is that while the living area is smaller than most, the lot size is relatively generous for the street, offering valuable outdoor space or future expansion potential that isn't immediately obvious from the home's footprint alone. The property’s assessed value is consistent with its immediate area, indicating a stable, no-surprises valuation in a neighbourhood of similar homes.
Section 2: Frequently Asked Questions
1. Is the house particularly small?
Yes. At 707 sq ft, the living area is below average for the street, neighbourhood, and city. It’s a compact home suited for a single person, a couple, or an investor.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent regarding the finish, ceiling height, and permitted uses.
3. How does the sale price compare?
The recent sale price of $173,000 was below the Winnipeg city-wide average but around the average for the Chalmers neighbourhood, indicating a typical price for this specific area.
4. What is the land like?
The lot is 2,266 sq ft, which is around average for Martin Avenue W but smaller than typical lots across Winnipeg. This means yard space is proportionate to the street but not expansive.
5. Are the property taxes likely to be high?
With an assessed value of $200,000, which is around average for the area but below the city average, the property taxes should be correspondingly moderate for Winnipeg, but always verify with an official tax statement.