Property Overview
This 1923 one-storey home at 165 Martin Avenue W in Winnipeg's Chalmers neighbourhood presents a straightforward, value-oriented opportunity. Its key appeal lies in its efficient scale and recent basement renovation, set on a 3,700 sqft lot that is notably larger than many in the immediate area. With 952 sqft of living space, the home is modest in size but typical for the street. The very low assessed value and last sale price point to a property that is financially accessible, likely appealing to first-time buyers, investors, or those seeking a minimal footprint. Its characteristics suggest it's a practical canvas—suitable for someone comfortable with a home of vintage charm who may prioritize the potential of the lot and renovated basement over above-average interior space or modern finishes.
Frequently Asked Questions
What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on the scope, quality, permits, or finished square footage are not provided. A buyer should investigate this directly to understand if it's a cosmetic update or a full legal conversion, and to check for any moisture issues common in century-old foundations.
Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific attributes—its smaller living area, age, and location—compared to all Winnipeg properties. It reflects its market position as a more affordable, compact home rather than a direct comparison to newer or larger houses in other areas.
Is the lot size a significant advantage?
Potentially. At 3,700 sqft, the lot ranks in the top 29% for the Chalmers neighbourhood, meaning it's larger than many nearby properties. This could offer more outdoor space, better parking options, or future expansion potential relative to other homes on the street.
What should I consider about the 1923 build date?
While the home's age is typical for the street, it necessitates careful attention to major systems like wiring, plumbing, and the roof during an inspection. The charm of an older home comes with the responsibility of maintaining or updating these core components.
Who are the most likely buyers for this property?
This home is best suited for a pragmatic buyer: a first-time purchaser seeking an entry point into the market, an investor looking for a rental property with a manageable price tag, or a downsizer content with a compact, single-level layout and a low tax burden.