249 Ottawa Avenue

Property Overview: 249 Ottawa Avenue, Winnipeg

Key Characteristics & Appeal

This one-storey home on a 3,072 sqft lot in Chalmers presents a straightforward, value-oriented opportunity. Built in 1923, its 756 sqft living area is modest and typical for the immediate street, but notably smaller than the Winnipeg average. The home lacks a basement and has a detached garage. Its primary appeal lies in its relative affordability and position as a manageable entry point into the market. The assessed value of $170k is around average for Ottawa Avenue, yet sits well below typical city-wide figures, highlighting the area's accessible pricing.

This property would suit a first-time buyer, an investor, or someone seeking a downsized, low-maintenance footprint. Its size and lot are proportionate, suggesting the potential is in the existing structure rather than extensive expansion. A thoughtful perspective is that while the home ranks below average in many city-wide metrics, it fits comfortably within its local context—this isn't a outlier, but a characteristic home for the block. For the right buyer, that represents stability and a clear, unvarnished project without the premium of a trending neighbourhood.

Frequently Asked Questions

1. Is the lack of a basement a major drawback?
It limits storage and potential for a developed rec room or suite, which is a consideration for growing families. However, it can mean fewer moisture concerns and simplifies the home's mechanical systems, appealing to those seeking simplicity.

2. How does the recent sale history inform the value?
The home sold for $210k in May 2021, which is $40k above its 2016 sale price. The current assessed value of $170k is significantly lower than that recent sale price, which may indicate a market adjustment or reflect specific conditions of that prior sale.

3. What is the neighbourhood of Chalmers like?
Chalmers is an established, mature neighbourhood in Winnipeg. The data shows homes here generally have smaller lots and living areas compared to the city-wide average, indicating a more compact, community-focused setting rather than a suburban one.

4. Are the property taxes likely to be high?
Given the assessed value is in the bottom 95% city-wide, the property tax burden should be relatively low compared to the Winnipeg average, which is a key financial advantage.

5. What kind of investment or renovation potential does it have?
With a living area below the neighbourhood average, there may be potential to add value through thoughtful updates or an addition, subject to zoning. The lot size is standard for the street, so expansion would need to be vertical. The data suggests the value is firmly in the land and structure as-is, making major renovations a personal preference rather than a clear value-play.