Property Overview
This two-storey home at 263 Talbot Avenue in Winnipeg's Chalmers neighbourhood presents a distinct profile. Its key appeal lies in the significant disparity between its generous living space and its modest official valuation. Built in 1963, the home features a renovated basement and a detached garage on a standard city lot.
The most striking characteristic is its living area of 2,240 sq ft, which ranks in the top 2% on its street and top 1% within Chalmers, far exceeding the neighbourhood average. This suggests a home that offers substantially more interior space than most in the area. However, its assessed value of $39.2k is notably low, creating an interesting dynamic. This combination would suit a practical buyer looking for maximum square footage per dollar, or an investor/renovator who sees potential value beyond the official assessment. The home’s age is above average for the immediate area, indicating it is a newer structure among predominantly older homes, which can be an advantage for systems and upkeep. The appeal is for those who prioritize interior space and see opportunity in the value proposition, rather than those seeking premium land size or a brand-new build.
Frequently Asked Questions
1. Why is the assessed value so much lower than the living area would suggest?
While the home offers large living space, assessed value is based on multiple factors including market area, property condition, and recent sales. The low assessment relative to size may reflect the neighbourhood's overall market or the home's specific condition, but it highlights a potential value opportunity for buyers.
2. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, permits, and whether it includes added bedrooms, a legal suite, or simply finished living space.
3. How does the 1963 build year compare to nearby homes?
The home is newer than most in Chalmers, where many homes are from the early 1900s. This can mean updated electrical, plumbing, or insulation compared to century-old neighbours, but a professional inspection is still essential for a 60-year-old house.
4. Is the detached garage a standard size?
The listing notes a detached garage but not its dimensions or condition. Given the lot size is around average for the city, the garage footprint is likely standard, but its state (e.g., insulated, wired, needing repair) should be verified.
5. The home sold for $30.6k in 2016. What does that history indicate?
The 2016 sale price was significantly below the current assessed value, which may indicate a major renovation, a market adjustment, or a non-arms-length transaction at that time. It underscores the importance of understanding what changes have occurred in the last eight years.