Property Overview & Key Characteristics
This one-and-three-quarter storey home on Talbot Avenue is a classic Winnipeg property with distinct character. Built in 1907, it offers 1,116 sqft of living space and sits on a notably generous 5,084 sqft lot for its Chalmers neighbourhood, placing it in the top 10-15% for land size in the area. The home has a basement, but it is not renovated, and there is no garage or pool. Its assessed value is modest, especially when viewed citywide, which often indicates a different property tax reality compared to newer subdivisions.
The appeal lies in its solid, above-average lot size and the potential that comes with an older, unrenovated character home. It suits a practical buyer—perhaps a first-time homeowner, an investor, or a hands-on individual—who values space over turn-key finishes. This buyer would be comfortable with a home that requires updates over time and is more interested in the fundamentals of land value and location than in modern amenities. A less obvious perspective is that the very modest assessment, while reflective of the home's condition, can represent a long-term value proposition in a city where property taxes are a significant ongoing cost.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor where the roofline slopes inward, reducing the ceiling height or square footage in parts of the upper level. It often adds unique character but can mean slightly less usable space on the top floor compared to a full two-storey.
2. The assessed value seems very low compared to the last sale price. Why?
The home's assessed value for municipal tax purposes is often based on mass appraisal models and may not directly reflect current market value, especially for older, unique homes. The last sale price from 2020 is a stronger indicator of its market worth, though conditions have changed since then.
3. How significant is the large lot size?
In the Chalmers neighbourhood, a lot over 5,000 sqft is a considerable asset. It offers more outdoor space, better potential for additions or landscaping, and future development options (subject to zoning) than many nearby properties. This is a key differentiator for this home.
4. What should I expect with an unrenovated basement?
This typically indicates original or older foundations, flooring, and utilities. It presents both a blank canvas and a potential project. Budgeting for moisture management, insulation, and modernizing mechanical systems should be a priority in any purchase plan.
5. The home is older than most on the street. Is that a concern?
Its 1907 build date means it has stood for over a century, which speaks to its durability, but it also requires a proactive maintenance mindset. Key considerations for a home of this age include the state of the wiring, plumbing, roof, and insulation. A thorough inspection is essential.