Property Overview & Key Characteristics
This one-and-a-half storey home, built in 1910, is a compact and character-filled property on a standard city lot in Chalmers. Its primary appeal lies in its simplicity and potential. With a modest 858 sqft of living space and no garage, it presents a straightforward, manageable footprint. A key feature is the renovated basement, adding valuable functional space. The home’s assessed value is notably low compared to the Winnipeg average, positioning it as an accessible entry point into the market.
Its charm is for a specific buyer: a first-time homeowner, an investor, or a downsizer looking for a no-fuss, low-maintenance base without a large mortgage. The appeal is practical—it’s a home that prioritizes function and affordability over size or modern luxury. A thoughtful perspective is that a home of this age and scale on a decent lot offers a rare opportunity for gradual, owner-led renovation or expansion, allowing equity to be built through sweat equity over time.
Frequently Asked Questions
1. What does "renovated basement" typically mean in a home of this age?
In a 1910 home, this usually indicates foundational updates like moisture control, insulation, and finished surfaces to create a dry, usable space for laundry, storage, or a recreational area, rather than a full secondary suite.
2. How should I interpret the low assessed value?
The assessed value is for municipal tax purposes and is often significantly lower than market value, especially for older, modest homes in established neighbourhoods. It indicates lower property taxes, but the sale price will be determined by current market conditions.
3. Is the lack of a garage a major drawback?
For some, yes. However, on a 2,724 sqft lot, there may be potential to add a parking pad or shed for storage. This is common in the area and keeps costs and maintenance lower for those who don’t require vehicle shelter.
4. Who would this property not suit?
It likely wouldn’t suit a family needing multiple bedrooms or dedicated home-office spaces, or a buyer seeking a modern, move-in-ready home with no projects. The smaller living area requires efficient use of space.
5. The home is older than most on its street. Is that a concern?
It indicates character and solid construction from its era, but a thorough inspection is essential. While systems may have been updated, an older home requires a proactive maintenance mindset from the owner.