Property Summary: 497 Chelsea Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, post-war home built in 1948, offering a practical entry point into Winnipeg’s Munroe West neighbourhood. Its key characteristic is its modest scale: with 770 sqft of living space and a 3,511 sqft lot, it sits below average in size for its street, area, and the wider city. The assessed value of $252k follows a similar pattern, being below the street and city averages but aligning closely with the average for Munroe West itself.
The primary appeal lies in affordability and location. It represents a lower-cost option within its immediate area, potentially suiting first-time buyers or investors seeking a manageable property. Its size and value metrics suggest it’s not a "fix-and-flip" candidate competing with larger homes, but rather a straightforward, functional dwelling. A thoughtful perspective is that its smaller footprint could mean lower utility costs and less maintenance, appealing to those seeking simplicity. It would suit buyers with realistic budgets who prioritize getting into the neighbourhood over finding a spacious or modern home, or an investor looking for a rental property with a relatively modest tax assessment.
Frequently Asked Questions
1. Is this a good value compared to nearby homes?
Based on the data, its assessed value is around average for the broader Munroe West area but below average for Chelsea Avenue specifically and the city overall. This suggests it may be priced accessibly for the neighbourhood.
2. What should I know about the size of the home and lot?
Both the house (770 sqft) and the lot (3,511 sqft) are notably smaller than most comparable properties on its street and in Winnipeg. Buyers should be comfortable with a compact living space and yard.
3. How old is the property, and what does that imply?
Built in 1948, it is older than most homes on its street and in the city. Prospective buyers should budget for potential updates to older mechanical systems, windows, or insulation that are typical for homes of this era.
4. What was it last sold for, and how can I find out the exact price?
It sold between September 2021 for a price between CA$200k and $250k. The site notes that exact sold prices are not displayed publicly due to data source rules, but they can be requested manually via email from the provider.
5. How does this property typically compare to others?
The rankings consistently show this home in the bottom tiers (often between the 70th and 93rd percentile) for size, lot, and value compared to peers. This isn’t necessarily negative—it clearly defines the property as a more affordable, smaller-scale option within its market.