Property Overview
This one-and-a-half storey home at 221 Ottawa Avenue in Winnipeg's Chalmers neighbourhood presents a practical and value-oriented opportunity. Built in 1949, it sits on a standard 3,073 sqft lot and offers 1,172 sqft of living space. Key features include a renovated basement and a detached garage. The home last sold in April 2021 for $26,800 and currently holds an assessed value of $26,100.
Key Characteristics & Appeal
This property’s primary appeal lies in its solid fundamentals and relative value within its immediate area. With above-average living space for both its street and neighbourhood, it offers more interior room than many comparable homes nearby. The renovated basement adds functional, modernized space. Its assessed value is consistently higher than local averages, suggesting it is a well-regarded home on its block.
It would suit a first-time buyer or practical investor looking for an entry point into the market with move-in-ready basics covered. It's also a sensible fit for someone who values a stable, established neighbourhood over a large lot, as the property is more compact city-wide but offers ample space locally. A less obvious perspective is that homes from this era often feature durable construction and simpler layouts that are easier to maintain or update incrementally according to a new owner's taste and budget.
Frequently Asked Questions
1. How does the property compare in size to its neighbours?
The home has a larger living area than most on its street and in Chalmers, ranking in the top 20%. However, its lot size is more typical for the area, being close to the neighbourhood average.
2. What does the assessed value indicate?
The assessed value is above average for both Ottawa Avenue and the broader Chalmers neighbourhood, which often reflects the property’s condition, improvements, and desirability within that specific context. City-wide, the assessment is more modest, highlighting the variation in property values across different Winnipeg areas.
3. Is the basement renovation a major factor?
Yes. A renovated basement immediately adds functional living or storage space without the need for initial investment, which is a key advantage for a buyer looking to avoid immediate major projects.
4. What is the significance of the 2021 sale price?
The close alignment between the 2021 sale price ($26,800) and the current assessed value ($26,100) suggests a stable value history in recent years, without dramatic market fluctuations for this specific property.
5. Who might this property not suit?
It may not suit buyers seeking a very large yard, ultra-modern construction, or a home that stands significantly above city-wide averages for size and value. Its strengths are most apparent within the local context of Ottawa Avenue and Chalmers.