Property Overview
This is a compact, century-old home on a modest lot in Winnipeg's Chalmers neighbourhood. Built in 1910, the 680 sqft one-storey house presents a straightforward opportunity. Its key appeal lies in its position as an affordable entry point into the market, with a detached garage and existing basement offering functional potential. The home suits buyers with a limited budget seeking a starter property, an investor looking for a rental, or someone interested in a land-value play with a small, existing structure. It’s not a move-in-ready showhome, but a practical foundation.
A thoughtful perspective considers its context: while its living space, lot size, and age rank below averages for its street, neighbourhood, and city, that very fact is what creates its accessibility. The last recorded sale price was remarkably low, suggesting this could be a canvas for renovation or a long-term hold in an area where other properties hold significantly higher assessed values.
Frequently Asked Questions
1. What does "below average" ranking for lot and living space actually mean?
It means that compared to most similar properties on its street, in Chalmers, and across Winnipeg, this home sits on a smaller lot (2,313 sqft) and has less finished living area (680 sqft). This typically translates to a lower price point.
2. Is the $13,200 sale price from 2017 relevant today?
It serves as a historical data point, highlighting the property's previous price level. The current assessed value of $170,000 is the official municipal valuation for tax purposes, which is often different from market value but indicates a significant appraisal increase since 2017.
3. Who would this property be most suitable for?
Primarily first-time buyers or investors with a tight budget. Its scale makes renovations potentially more manageable than a larger home. It may also appeal to someone valuing location over square footage, seeking minimal interior upkeep.
4. What are the implications of an unrenovated basement?
This indicates the basement is unfinished or in original condition. It adds storage or utility space but will require investment to become livable area. Checking for moisture issues and foundation integrity would be a priority.
5. How does the detached garage add value?
It provides secure storage, workshop space, or parking—a valuable asset, especially on a smaller lot where on-site parking might otherwise be limited. It adds functional utility that similar small homes sometimes lack.