Property Overview
This is a compact, one-storey home built in 1921 on a standard city lot in the Chalmers neighbourhood. Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, particularly for a detached home with a yard. The house itself is modest, with 768 sqft of living space and an unrenovated basement, suggesting it's a candidate for updates or a hold for land value. The detached garage adds practical utility.
It would best suit a first-time buyer, an investor looking for a rental property, or someone seeking a low-maintenance footprint with renovation potential. The lot size is typical for the area, offering outdoor space without being overwhelming. A thoughtful perspective is that its below-average citywide metrics (like living area and assessed value) aren't necessarily drawbacks here; they reflect its role as a practical, no-frills property in an established community, not a luxury purchase. Its value is functional and foundational.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the home is older and compact, it appears habitable. Its value is a combination of the existing structure and the land. A buyer could choose to live in it while planning future renovations or consider its redevelopment potential.
2. What does "below average" for citywide living area mean?
It means that compared to all homes across Winnipeg, this house is smaller than most. However, within its own Chalmers neighbourhood, its size is much more typical. This highlights that it's a characteristically scaled home for this specific, established area.
3. Why is the assessed value so much lower than the citywide average?
The citywide average is skewed higher by newer, larger homes in suburban developments and more expensive areas. This assessment is in line with older, central neighbourhoods and reflects the home's age, size, and current condition more accurately for its location.
4. What can be inferred from the unrenovated basement?
It indicates additional space that is unfinished. This presents both a cost (it may need work to be fully usable or to address any moisture issues) and an opportunity (it offers blank-canvas storage or future living space).
5. How should I interpret the sale history?
The home sold in 2017 for $16,800, and its current assessed value is $19,600. This recent history suggests a market with very accessible price points. It's essential to have a current market evaluation to understand today's value, but the history confirms the property's position in the affordable segment.