Property Overview: 173 Gordon Avenue, Winnipeg
Key Characteristics & Appeal
This well-positioned two-storey home in Chalmers, built in 1914, presents a compelling mix of character and practicality. Its primary appeal lies in its strong performance within its immediate context. The 1,276 sqft living area is notably spacious compared to most homes on its street and in the neighbourhood, offering above-average roominess for the area. It sits on a 2,744 sqft lot, which is also larger than many nearby properties. A key modern update is the renovated basement, adding functional living space, and the property includes a detached garage.
The home’s assessed value and recent sale price consistently rank well above average for both Gordon Avenue and the broader Chalmers neighbourhood, suggesting it is perceived as a premium property in its local market. This makes it particularly suited for buyers who value a character home in an established area but want one that stands out in terms of size and updated features compared to its peers. It’s an ideal fit for someone looking for a smart, value-conscious purchase within a specific community, rather than seeking the largest lot or newest home city-wide.
A less obvious perspective is that this property represents a "big fish in a small pond" scenario. While its metrics are below Winnipeg-wide averages for lot size and year built, it excels dramatically within its own neighbourhood and street. This indicates a home that offers superior comfort and investment potential in its specific locale, appealing to buyers who prioritize liveability and community over city-wide comparisons.
Frequently Asked Questions
1. How does the lot size compare?
At 2,744 sqft, the lot is above average for Gordon Avenue and typical for the Chalmers neighbourhood, but below the city-wide average. This means you get a decent-sized yard for the area without the maintenance of a much larger urban lot.
2. Is the home unusually old for the area?
No. Built in 1914, it is actually newer than the average home on its street and is very close to the average age for the Chalmers neighbourhood, fitting right in with the area's established character.
3. Why is the assessed value so much lower than the recent sale price?
The assessed value for tax purposes ($27.90k) is a historical figure and does not reflect current market value. The sale price of $31.20k in late 2023 is the relevant market indicator, and it ranked in the top 4% of sales on its street at that time.
4. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish or rooms. This detail should be verified with the seller or listing agent to understand the nature of the renovation and if it includes legal suites, additional bedrooms, or simply finished living space.
5. How stable has the property's value been?
Recent sales show consistent growth in the local market context. It sold for $25.90k in 2019 and $31.20k in 2023, with both prices ranking "above average" to "well above average" for the immediate area, indicating strong and sustained local demand for this specific property.