Property Overview: 235 Chelsea Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 804 sqft bungalow, built in 1950 on a 5,149 sqft lot in Munroe West, presents a straightforward, value-oriented opportunity. Its core appeal lies in its strong relative value within its immediate context. While the living space is modest compared to the Winnipeg average, its assessed value of $310k ranks notably above average for both its street (top 22%) and the broader Munroe West area (top 19%). This suggests the property is perceived as a solid asset within its established neighbourhood.
The home would suit first-time buyers or practical downsizers seeking an entry point into a mature community without a premium price tag. It’s also a candidate for investors or renovators looking for a property with a good lot size where the value is already anchored in the land and location, rather than the current structure. A thoughtful perspective is that this home represents the "local normal"—it’s not a standout city-wide, but it holds its own and even excels on its own block, which can be a sign of a stable, in-demand micro-location.
Section 2: Frequently Asked Questions
1. Is the living area small for the price?
While the square footage is below the city average, the assessed value is strong for the street and neighbourhood. This indicates that factors like lot size, location within Munroe West, and the property’s condition are likely contributing more to its value than pure interior space.
2. How has the property’s value changed?
Based on available sale data, the home sold in 2018 and 2019 in the $250k-$300k range, and then between $350k-$400k in 2023. This suggests significant appreciation over that five-year period, with the latest sale price ranking in the top 8% for the street.
3. What does the “above average” assessed value ranking mean for taxes?
A higher assessed value relative to immediate neighbours typically results in a proportionally higher property tax bill. It’s wise to budget for taxes based on the $310k assessment.
4. The home is 76 years old. What should I consider?
Being of average age for the area, major systems like roof, plumbing, wiring, and foundation should be carefully inspected. Homes from this era may need updates, but also often feature larger lot sizes than newer builds.
5. How can I verify the exact past sale prices?
The site provides estimated price ranges. To obtain the exact sale figures, you must request a manual lookup via email, as this data is not sourced from the MLS system.