Property Overview
This two-storey home on Mcphail Street in Winnipeg's Chalmers neighbourhood presents a specific and practical opportunity. Built in 1914, it sits on a 2,500 sqft lot, which is a manageable size for the area. The key characteristic is its generous 1,348 sqft of living space, which is notably larger than many homes in Chalmers and on its own street. It features a detached garage and an unrenovated basement. The home’s appeal lies in its above-average interior space at a value-conscious price point, as reflected in its assessed value. It would suit a buyer looking for a project-ready home with good interior volume, or an investor seeking a land-holding property in an established area. It’s less suited for those seeking a modern, turn-key home or extensive outdoor space.
Frequently Asked Questions
1. What does "above average living area" mean in this context?
While the home is over a century old, its interior space is a standout feature. It ranks in the top 8% for size within the Chalmers neighbourhood, meaning it offers more square footage than the vast majority of comparable local homes.
2. Why is there such a large gap between the last sale price and the current assessed value?
The property last sold in 2010 for $13,500. The current assessed value is significantly higher, which likely reflects market-wide price increases over the past 14 years and the property's above-average living area for its locale.
3. What should I know about the "unrenovated basement"?
This indicates the basement is in original or functional condition but has not been modernized or finished as living space. It presents both potential for future development and a clear, immediate project for any buyer.
4. How does the lot size compare?
At 2,500 sqft, the lot is moderately sized for the street and below the citywide average. This suggests a lower-maintenance yard, which can be an advantage, but limited space for major expansions.
5. Is the older year built a concern?
Built in 1914, the home is older than the Winnipeg average. This typically means potential for character but also necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation to understand any needed updates.