Property Overview
248 Ottawa Avenue is a one-storey home built in 1931, situated on a standard 3,001 sqft lot in Winnipeg's Chalmers neighbourhood. Its key features include a renovated basement and a detached garage. The home presents a practical, no-frills opportunity, with its appeal rooted in its relative value and functional updates within a mature community.
Key Characteristics & Suitability
The primary draw of this property is its balance of a modest, updated footprint and a decent lot size for the area. With 922 sqft of living space, it is a compact yet functional home, made more practical by the renovated basement. The detached garage adds valuable storage or workshop space. The lot size is typical for Ottawa Avenue and Chalmers, offering standard outdoor space without extensive maintenance demands.
Its appeal lies in its position as an affordable entry point into the Winnipeg market, particularly for a stand-alone house with some modernized elements. The data suggests it is assessed at a value above average for its immediate street and neighbourhood, indicating it may be viewed as a solid asset within its local context, even while being below the citywide average.
This home would best suit first-time buyers, downsizers, or practical investors looking for a straightforward property. It’s for someone who values a renovated basement for extra living space or rental potential over a large or modern main floor. It’s a home that prioritizes function and location over size or luxury, ideal for those comfortable with a character home’s footprint and the dynamics of an established neighbourhood.
Frequently Asked Questions
Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes with the city if considering rental income.
How does the assessed value relate to the likely sale price?
The home last sold in 2016 for $22.3k and is now assessed at $24.3k. In Winnipeg, assessed value for taxation purposes is not a direct predictor of market sale price. A professional market evaluation is needed to determine current value.
What does "above average" assessed value for the street mean?
This means the city’s assessment of this property’s value is higher than most of its immediate neighbours. This can reflect the renovated condition or other attributes, but it may also result in a proportionally higher property tax bill compared to similar, unrenovated homes on the block.
Are homes from 1931 expensive to maintain?
While the renovated basement is a plus, a 95-year-old home will have aging core components like plumbing, electrical, and the foundation. Prospective buyers should budget for ongoing maintenance and consider a thorough inspection focused on these older systems.
How does the lot size compare to newer Winnipeg homes?
The lot is around 3,000 sqft, which is very standard for its neighbourhood but below the current citywide average of about 6,570 sqft. This means smaller yards than in many suburban areas, but also less yard work.