Property Overview: 227 Martin Avenue W, Winnipeg
Key Characteristics & Buyer Appeal
This one-and-three-quarter storey home, built in 1913, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in offering above-average interior space on a standard city lot. With 1,296 sqft of living area, the home ranks in the top 10% for size both on its street and within Chalmers, making it a notably roomier option compared to many neighbouring properties. The lot size of 2,806 sqft is typical for the area, providing manageable outdoor space without excessive maintenance demands.
The home suits buyers looking for value in established neighbourhoods, particularly those who prioritize interior square footage over a fully renovated state. It’s a fit for handy buyers or those with a renovation budget, as the basement is noted as unrenovated. The lower assessed value and recent sale price point to a property where the value is grounded more in its spatial footprint and potential than in modern finishes. A thoughtful perspective for a buyer is to consider the trade-off: you're acquiring significantly more interior room than nearby homes, but likely assuming the project of updating an older structure to modern standards.
Frequently Asked Questions
1. What does "one & 3/4 storey" mean?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor with sloping ceilings where the roofline begins, making the upstairs rooms cozier. It often provides efficient use of space and a distinctive character.
2. How does the living area compare to nearby homes?
This home’s living area is a standout feature. At 1,296 sqft, it is substantially larger than the average for both Martin Avenue W (948 sqft) and the Chalmers neighbourhood (953 sqft).
3. What is the significance of the assessed value being lower than the city average?
The assessed value is for municipal tax purposes and is based on a mass appraisal system. A value significantly below the citywide average is common for older homes in established neighbourhoods and reflects factors like age, condition, and local market trends, not just size.
4. Are there any immediate major costs to anticipate?
Given the age of the home (1913) and the unrenovated basement, prospective buyers should budget for potential updates to major aging systems, such as plumbing, electrical, or the foundation, and should prioritize a thorough inspection.
5. How does the lot size affect maintenance and potential?
At just under 2,800 sqft, the lot is very manageable for upkeep. While it offers space for a garden or patio, it may not accommodate large additions or a detached garage without creative planning, due to its relatively standard dimensions for the street.