872 Chalmers Avenue E

Property Overview: 872 Chalmers Avenue E, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in East Elmwood presents a straightforward opportunity centered on land value and simplicity. Its key characteristic is a significant lot size of 4,853 sqft, which is well above average for both the immediate street and the East Elmwood neighbourhood. This is contrasted by a modest, 680 sqft living space that is smaller than most comparable homes. The house itself, built in 1943, features a basement (not renovated) and a detached garage.

The primary appeal lies in its potential. The large lot is a blank canvas for gardening, expansion, or future redevelopment, offering a tangible asset that smaller, newer lots cannot. It suits a specific type of buyer: a first-time purchaser or an investor looking for an entry point into the market with a focus on the land rather than the existing structure. It’s a practical choice for those comfortable with a smaller footprint now, who see value in what the property could become over time. The historically low assessed value suggests manageable property taxes, adding to its affordability.

Section 2: Frequently Asked Questions

1. Is the house in move-in condition?
The listing notes the basement is "not renovated," which suggests the home is likely dated and may require updates. Buyers should budget for maintenance and modernizations.

2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's modest size, age, and condition relative to the broader Winnipeg market. It is more in line with values within its specific local area.

3. What are the real advantages of such a large lot?
Beyond extra yard space, a larger lot in a mature neighbourhood provides long-term flexibility. It could allow for a significant addition, the creation of a separate garden suite (subject to zoning), or simply preserve a sense of privacy and space that is becoming rarer.

4. How does the sale history inform the current value?
The property sold in 2023 for $20.5k and previously in 2016 for $13.5k. This indicates a market for the property at its price point, but a professional appraisal and current market analysis are essential to determine its present value.

5. Who would this property not suit?
It would not suit buyers seeking a turn-key home, modern finishes, or significant interior space from the outset. It is also less ideal for those unwilling to consider future renovation projects or land development.