Property Overview: 261 Gordon Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1944, situated on a notably generous 3,800 sqft lot in the Chalmers neighbourhood. Its primary appeal lies in the land itself—the lot size is well above average for both the immediate street and the broader area, representing significant potential for expansion, gardening, or outdoor living. The house is modest, with 700 sqft of living space and an unrenovated basement, positioning it as a true blank canvas or a starter home.
Its strongest suit is for value-focused buyers: first-time homeowners, investors, or builders looking for a property where the value is in the land rather than the existing structure. It’s also a practical fit for someone seeking a lower-cost entry into a stable neighbourhood without the premium for a modernized home. A less obvious perspective is its appeal to those who prefer a manageable, smaller interior footprint but desire ample private outdoor space—a combination that can be rare in older neighbourhoods.
Frequently Asked Questions
1. Is this a teardown or a renovation project?
Given the home's smaller size, age, and unrenovated state, it could be seen as either. The above-average lot size makes it suitable for eventual replacement, but the structure may also be viable for a careful, budget-conscious expansion or update.
2. How does the very low assessed value work?
The assessed value is for taxation purposes and reflects the property's current state and market influences at the time of assessment. It is significantly below the citywide average, which typically indicates a modest improvement value relative to the land. The sale price will be determined by the current market.
3. What are the real costs beyond the purchase price?
Buyers should budget for updating essential systems (roof, wiring, plumbing) given the home's age, and for developing the basement if living space is a priority. The large lot may also entail higher maintenance costs or landscaping investments.
4. Who would this property not suit?
It would not suit buyers looking for a move-in-ready home, those needing multiple bedrooms or ample finished space immediately, or anyone uncomfortable with taking on a project.
5. Why is the lot size important here?
In established neighbourhoods, land is the scarce resource. A lot size in the top 8% on its street offers privacy, space for additions, and future flexibility that smaller lots do not, which is a key long-term value driver for this property.