558 Washington Avenue

Property Overview: 558 Washington Avenue, Winnipeg

Key Characteristics & Appeal

This one-storey home on Washington Avenue in Chalmers presents a practical opportunity centered on its land and location. Built in 1959, it is notably newer than many homes on its street and in the wider neighbourhood. The property stands out for its above-average lot size of 4,403 sqft within Chalmers, offering more outdoor space than most local comparables. The home itself is compact at 964 sqft of living area, with the noted feature of a renovated basement adding functional space. A detached garage completes the package.

The primary appeal lies in its solid positioning within a well-established community. It suits a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes a generous lot in a mature neighbourhood over a large interior. The renovated basement suggests move-in readiness for a portion of the home, while the lot offers potential for expansion, gardening, or simply more private outdoor space than is typical. It’s a property for those who see the underlying asset—the land and its location—as the key value.

Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The current assessed value for taxation is $27,700, but the home last sold for $23,500 in 2016. Market value is determined by current market conditions and what a buyer is willing to pay, which can be higher or lower than the assessed value.

2. What does "above average" for Year Built really mean for a 1959 home?
It means that, within the immediate context of Washington Avenue and the Chalmers neighbourhood, many homes are older. This home is newer than the historic average for the area, which may suggest updates to core systems over time, though a specific inspection is always needed.

3. The living area is noted as "below average" citywide. How impactful is that?
This highlights the property’s context. While the home is smaller than the Winnipeg average, its living area is typical for its own street and neighbourhood. This reflects the character of established, post-war communities where efficient floor plans on larger lots are common.

4. What are the implications of the lot size being "above average" for the area?
A larger lot in a mature neighbourhood like Chalmers is a significant asset. It provides more privacy, yard space, and potential for future projects like an addition, deck, or shed than most neighbouring properties. This is a key differentiator for this listing.

5. Who would this property not suit well?
It may not suit buyers seeking a modern, move-in-ready home with ample above-ground square footage or open-concept living. The compact main floor and the age of the home (despite being relatively newer for the area) likely require a willingness to maintain or gradually update a character property.