Property Overview: 364 Chelsea Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 840 sqft bungalow, built in 1950, presents a practical opportunity in the Munroe West neighbourhood. Its key appeal lies in its positioning as a competitively priced, manageable property within a well-established area. The home sits on a just-under-5,000 sqft lot, which is typical for the immediate area but offers more yard space than many newer city lots.
The data reveals a nuanced value proposition. The assessed value of $282k is below the Winnipeg city average, yet it sits comfortably in the middle range for both Chelsea Avenue and the broader Munroe West area. This suggests you are paying for location and lot within a specific community, rather than for square footage, as the living area is notably smaller than the citywide average. This makes it a potential target for value-conscious buyers who prioritize land and neighbourhood character over interior size.
The property would suit first-time buyers looking for an entry point into a stable neighbourhood, or downsizers seeking a single-level home with a manageable yard. It’s a home for those who see potential in a classic layout and value a community setting over a brand-new build. A thoughtful perspective is that its "average" metrics within the local context indicate a stable, predictable investment for the area, not an outlier, which can be appealing for long-term planning.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to others nearby?
At 840 sqft, the living area is smaller than the average home on Chelsea Avenue (~978 sqft) but very close to the average for the wider Munroe West area (~958 sqft). It offers a more compact footprint.
2. Is the assessed value of $282k high for this area?
No, it is actually slightly below the average for Chelsea Avenue and aligns with the average for Munroe West. Citywide, it is significantly below average, highlighting the neighbourhood-based value.
3. What is the lot size, and how does it compare?
The lot is 4,913 sqft. It is slightly below average for Chelsea Avenue but slightly above average for Munroe West, offering a decent-sized yard typical of the post-war era.
4. When was it last sold, and for roughly how much?
The home sold in October 2021. Public data indicates a sold price in the range of CA$300,000 to $350,000. Exact figures require a manual lookup from the provider.
5. Are there similar homes nearby to compare it to?
Yes. The listing shows several direct neighbours on Chelsea Avenue and similar nearby streets like Melbourne and Sydney Avenues, which have comparable assessed values, year built, and living areas, providing a clear picture of the local market.