Property Overview & Key Characteristics
This one-and-a-half storey home on Dearborn Avenue, built in 1910, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its efficient use of space and its position as a relatively larger home on its street. With 1,046 sqft of living area, it ranks well above the average for Dearborn Avenue, offering more interior space than most immediate neighbours. The lot size of 2,591 sqft is also notably above average for the street, providing good outdoor space for the area. A key feature is the renovated basement, adding functional living space. The home last sold in late 2022, indicating a recent market transaction.
This property would suit a first-time buyer or a pragmatic investor looking for a character home with updated fundamentals in a mature neighbourhood. Its above-average living and land size for the street offers a sense of value and potential not always found in comparable vintage homes. The lack of a garage and the home's age mean it appeals to those comfortable with some trade-offs or future projects, balanced by the renovated basement. It’s a home for someone who values neighbourhood consistency and practical space over modern amenities and high city-wide rankings.
Frequently Asked Questions
1. What does the "above average" ranking for living area actually mean?
It means that, compared to other homes directly on Dearborn Avenue, this house has more interior space (1,046 sqft) than roughly 86% of them. This is its strongest comparative feature.
2. The assessed value seems very low. Is that accurate?
Yes, the municipal assessed value is $21,200. It's important to understand this is for tax purposes and is consistently low compared to market value in this area, as shown by the 2022 sale price of $190,000. Always rely on recent sale prices and a professional appraisal for market value.
3. What should I know about a home built in 1910?
While it offers classic character, prospective buyers should budget for and prioritize inspections focused on aging components like the roof, foundation, plumbing, and electrical systems, which may need updates or ongoing maintenance.
4. The home lacks a garage. How does that impact value and livability in this area?
For this street and neighbourhood, the lack of a garage is common. The above-average lot size may provide room for adding off-street parking or a future garage, subject to local bylaws. For many buyers in this market segment, on-street parking is an accepted norm.
5. The sale price jumped from $19,500 in 2020 to $190,000 in 2022. What happened?
This dramatic increase almost certainly reflects a substantial renovation or change in property condition between those sales, with the renovated basement being a key outcome. It underscores the importance of understanding what improvements were made and their quality.