Property Overview: 501 Washington Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1916, offering a practical footprint of 1,199 sqft on a standard city lot. Its primary appeal lies in its relative size and value within the immediate Chalmers neighbourhood. The living area is notably above average for both Washington Avenue and Chalmers, providing more interior space than many nearby homes. It features a renovated basement and a detached garage. The assessed value is modest, especially when viewed citywide, suggesting a potentially accessible entry point into the market.
The property suits first-time buyers or practical downsizers looking for a no-fuss, character home in an established area without a premium price tag. Its appeal is grounded in functionality and neighbourhood-level value rather than luxury or size compared to the broader city. A thoughtful perspective is that while the home is older, its above-average living area for the locale means you’re getting more usable space per dollar here than in many direct comparisons, which can be a smart trade-off for the right buyer.
Frequently Asked Questions
1. How does the home’s size really compare to others?
While the 1,199 sqft living area is around the citywide average, it ranks in the top 16% within the Chalmers neighbourhood, meaning it is significantly more spacious than most homes in the immediate area.
2. What does the assessed value indicate?
The assessed value is modest, placing it in the top 94% citywide (meaning only 6% of homes are assessed lower). This typically reflects the home’s age, type, and location, and often correlates with lower property taxes, but it is not a direct market sale price.
3. Are there any concerns with a home built in 1916?
While the basement has been renovated, the age implies that core systems (like plumbing, electrical, and the foundation) may be older or have been updated at various times. A thorough inspection is essential to understand the condition and any needed updates.
4. How does the lot size affect the property?
The lot is a standard urban size for the area. It’s not oversized, but it provides typical yard space for the neighbourhood. It ranks below average citywide, where newer suburbs often have larger lots, but is consistent with the local streetscape.
5. Who might this property not suit?
It may not suit buyers seeking a modern, turn-key home, as a 110-year-old property likely requires a hands-on attitude. It’s also less ideal for those prioritizing high citywide equity or maximum lot size, as its strengths are more localized to the neighbourhood context.