Property Overview
This one-storey home at 225 Mcintosh Avenue in Winnipeg's Chalmers neighbourhood is a property defined by its land and potential. Built in 1909, its primary appeal lies in its 3,159 sqft lot, which is notably larger than most in the immediate area. The house itself is compact at 498 sqft of living space and features a detached garage and an unrenovated basement. It recently sold for $180,000, a price point significantly below the Winnipeg average.
Key Characteristics & Ideal Buyer
The defining characteristic of this property is the contrast between its below-average living space and its above-average lot size for the street. Its appeal is rooted in opportunity: it is a land-value proposition with an existing, modest structure. The very low assessed value reflects the home's age, size, and condition. This would suit a buyer looking for an entry point into homeownership with plans to expand or rebuild, an investor considering the land value, or someone seeking a minimal, low-cost footprint with ample outdoor space. It is less suited for those seeking a move-in-ready or spacious family home without a major renovation or construction project.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually indicates a basement in original or rough condition, likely suited only for storage and utilities, and may have moisture, insulation, or ceiling height concerns common in century-old homes.
2. The assessed value is very low compared to the sale price. Why?
Municipal assessed value for tax purposes often lags behind market value, especially after a recent sale. This large gap suggests the market is valuing the land's potential far more than the existing structure.
3. Is the large lot a guarantee I can rebuild or add on?
Not automatically. You must verify all zoning bylaws, setback requirements, and obtain necessary permits. The lot size is an advantage, but the rules dictate what can be built.
4. How significant is the age of the home (1909)?
It means potential for charming character but also a higher likelihood of outdated plumbing, electrical, insulation, and the need for foundational upkeep. Budgeting for these systems is crucial.
5. The home ranks very low for living area. How livable is 498 sqft?
This is extremely compact, comparable to a small one-bedroom apartment. It necessitates minimalistic living and likely has a combined living/sleeping area, with limited storage and no dedicated dining space.