Property Overview
This one-storey home at 245 Gordon Avenue in Winnipeg's Chalmers neighbourhood presents a specific and practical value proposition. Built in 1958, its key appeal lies in its efficient use of space and its position on a notably large lot for the immediate area. The home itself is compact at 680 sqft of living area, but it sits on a 2,744 sqft lot that ranks in the top 27% for size on its street. This combination suggests potential for expansion or outdoor enjoyment relative to nearby properties. A renovated basement and a detached garage add functional utility. The home last sold in 2020 for $200,000, with a current assessed value significantly lower at $21,500, indicating a market value that has diverged from the city's assessment formula.
Its appeal is grounded in practicality and land value. It would suit a first-time buyer, an investor, or someone looking for a manageable, low-maintenance footprint with the bonus of a larger-than-average yard in the local context. It's less suited for those requiring substantial immediate living space without renovation.
Frequently Asked Questions
1. Why is the sale price so different from the assessed value?
Property assessments in Manitoba are for tax purposes and are based on a mass appraisal system, not current market conditions. The 2020 sale price of $200,000 is a clearer indicator of its market value, while the $21,500 assessment reflects a valuation formula that can lag behind rapid market changes.
2. Is the house too small?
At 680 sqft, the living area is below average for the street, neighbourhood, and city. However, the renovated basement provides additional finished space. This layout suits those who prioritize efficient living or see the compact main floor as a candidate for a thoughtful expansion, given the generous lot size.
3. What does the lot size ranking actually mean for me?
Ranking in the top 27% for land area on Gordon Avenue means your yard is larger than most on your block. In a mature neighbourhood, this is a valuable asset for gardening, privacy, adding a deck, or future home additions that smaller lots couldn't accommodate.
4. How does the 1958 build year compare?
With a 1958 build, this home is newer than most on its street (top 15%) and in Chalmers (top 17%). This can suggest more modern construction materials, wiring, or plumbing foundations compared to many neighbouring homes built in the 1920s-1940s.
5. What is the neighbourhood context?
The home's metrics are consistently stronger within its immediate street context than in the wider city. This highlights the importance of hyper-local comparison. It performs "around average" or better on most metrics within Chalmers, suggesting it's a typical, well-situated property for this specific area.