240 Ottawa Avenue

Property Overview: 240 Ottawa Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1913, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its efficient use of space and relative value. With 1,100 sqft of living area, the home is notably larger than many comparable houses on its street and in the immediate area, offering more interior room than one might expect from its era. The land size is typical for the local streetscape. A significant feature is the renovated basement, adding functional living space, and the property includes a detached garage.

The home’s assessed value is consistently below average across all comparison levels (street, neighbourhood, and city-wide), which can indicate a potentially accessible entry point into the market. This combination—more interior space than local peers, recent updates below grade, and a lower assessment—creates a distinct profile. It would suit a first-time buyer or pragmatic investor looking for a character home with updated fundamentals, without the premium price tag of a fully modernized property. It’s a home that offers value through its generous interior footprint and renovation work already completed, rather than through a large lot or a recent build date.

Section 2: Frequently Asked Questions

1. What does the below-average assessed value mean for me?
A below-average assessment often correlates with a lower property tax bill, which is a ongoing cost saving. It can also suggest the home is priced below many area comparables, but it's essential to have a current market evaluation to understand the full picture.

2. The home was built in 1913. What should I consider?
While the basement has been renovated, the core structure is over a century old. Prospective buyers should prioritize a thorough inspection focusing on the foundation, original plumbing and electrical systems, and the roof to understand any needed maintenance or updates.

3. How does the living area compare meaningfully?
The data shows this home ranks in the top 25% for living area in Chalmers. This means you're getting more enclosed living space than most similar homes in the neighbourhood, which is a notable advantage for daily living, even on a standard-sized lot.

4. What are the implications of a detached garage?
A detached garage provides valuable storage or workshop space but means dealing with snow and weather when going between your car and house. It’s a useful asset, but different from the convenience of an attached structure.

5. The home sold in 2016. How is that relevant?
The 2016 sale price provides a historical benchmark, showing how the property's market value has moved over an 8-year period. This can be a useful data point for understanding long-term trends for the specific house when compared to its current listing price.