Property Overview: 235 Midwinter Avenue, Winnipeg
Key Characteristics & Appeal
This is a modest, one-storey home built in 1910, situated on a standard-sized lot in the Chalmers neighbourhood. Its primary appeal lies in its position as an accessible entry point into the Winnipeg market. With a very low assessed value and a compact 680 sqft living area, it represents one of the most affordable detached property options available. The home includes a basement and a detached garage, but both the house and basement are unrenovated, presenting a clear fixer-upper opportunity.
The property’s data reveals a nuanced story. While its living space is quite small compared to most city homes, the lot size is actually above average for the Chalmers area, suggesting potential for expansion or outdoor use. This home would suit a specific type of buyer: a hands-on first-time purchaser, an investor looking for a rental property with a low entry cost, or someone seeking a minimalist footprint with the land to potentially build anew in the future. Its value is fundamentally in the land and the opportunity it represents, rather than in its current condition or size.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the home’s very small size, its age, and its unrenovated condition. It is priced as a land-value proposition with a existing structure, rather than as a move-in-ready home.
2. What does the lot size comparison actually mean for me?
While the lot is below average for the city overall, it is larger than most in the immediate Chalmers neighbourhood. This means you get more outdoor space than many nearby properties, which could be a advantage for gardening, adding a deck, or future redevelopment.
3. Is this a teardown property?
Not necessarily, but it’s a strong candidate. The decision would depend on the new buyer’s goals, budget, and the condition of the existing foundation and structure. Its value is heavily weighted toward the land itself.
4. How does the previous sale price in 2021 relate to today’s value?
The 2021 sale price of $13,500 is a historical data point and likely reflects a similar or worse condition than today. The current assessed value of $150k provides a more recent benchmark, though market conditions and any minor improvements since 2021 would influence the actual listing price.
5. What are the immediate costs a buyer should anticipate?
Beyond the purchase price, a buyer must budget for essential updates to make the home livable, which could include roofing, plumbing, electrical, heating, and insulation. The unrenovated basement may also require moisture mitigation. A thorough inspection is crucial to understand the full scope.