Property Overview
This one-storey home at 233 Washington Avenue in Winnipeg's Chalmers neighbourhood presents a specific and straightforward opportunity. Built in 1913, it sits on a 3,002 sqft lot with a modest 755 sqft living area and a detached garage. The home recently sold for $20,500, which is consistent with its low assessed value. Its key appeal lies in its land value and location, rather than the size or condition of the existing structure. This property would primarily suit a buyer looking for a land play—perhaps for future redevelopment, building a new home, or as a long-term hold in an established area. It could also appeal to an extremely budget-conscious buyer seeking basic shelter with renovation potential, though the very small living space and age of the home require careful consideration.
Key Details & FAQs
What are the main characteristics of this home?
It's a 113-year-old, one-storey house with 755 square feet of living space on a 3,002 square foot lot. It includes a detached garage and has no basement. The home sold for $20,500 in October 2024.
What does the data about "rankings" or "top percent" mean?
This data compares the property to others. For example, its lot size is in the Top 43% on its street, meaning it's larger than 43% of nearby lots. Conversely, its assessed value is in the Top 92% citywide, meaning it's valued lower than 92% of Winnipeg properties, highlighting its significantly below-average market value.
Who is this property best suited for?
It's best for an investor or buyer whose plans focus on the land itself. This could include someone intending to demolish and rebuild, hold the lot for future use, or undertake a major gut renovation. It's less suited for someone seeking a move-in ready or spacious family home.
Is the price reflective of the condition?
A sale price near a very low assessed value, especially for a 1913 home, strongly suggests the price reflects the land value with minimal value assigned to the building. Buyers should budget for significant updates, repairs, or even demolition.
How does the lot size compare to the neighbourhood?
The lot is slightly below the average size for the immediate area but is still a reasonably sized urban parcel. The more notable point is that the house's footprint is small relative to its lot, which could provide flexibility for additions or landscaping not possible on a more densely built lot.