Property Overview
This one-storey home on Martin Avenue W in Winnipeg's Chalmers neighbourhood presents a straightforward, value-oriented opportunity. Built in 1924, its key characteristic is a modest 704 sqft living area, which positions it well below average citywide for size. The lot, however, is a standard city size at 2,807 sqft, typical for the street and area. The home has a basement (not renovated) and no garage or pool. Its recent assessed value is $180k, which is around the average for its immediate surroundings but below the Winnipeg average.
The appeal lies in its affordability and location within a stable, established community. It suits first-time buyers seeking an entry point into homeownership, investors looking for a rental property with a manageable footprint, or downsizers who prioritize a smaller, low-maintenance living space. A thoughtful perspective is that its below-average size and value for the city at large could represent a chance to secure a home in a neighbourhood where you're paying primarily for the land and location, with the potential to add value through thoughtful updates over time.
Frequently Asked Questions
1. Is this a "tear-down" or a liveable home?
Based on the details, it is a standing home with a liveable area and an unrenovated basement. It is likely functional but may require updates or improvements depending on its condition.
2. How does the lot size compare?
The 2,807 sqft lot is very typical for the Chalmers neighbourhood and Martin Avenue itself, offering standard outdoor space for the area without being exceptionally large or small.
3. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's smaller size, age, and the generally more affordable market in the Chalmers area compared to the Winnipeg-wide average, which includes newer, larger homes in higher-priced districts.
4. What does "around average" for the street and neighbourhood mean for value?
It suggests the property is priced in line with its direct peers. You're not overpaying for the location relative to nearby homes, but you're also not finding an outlier bargain on the block.
5. What might be a less obvious consideration before viewing?
Given the age (1924) and the mention of an unrenovated basement, prospective buyers should pay particular attention to the foundation, plumbing, and electrical systems. The cost of modernizing these core elements could be a significant factor in the total investment.