Property Summary: 264 Bowman Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1913, presents a classic character property with practical potential. Its key appeal lies in offering above-average interior living space (1,187 sq ft) for its immediate area and neighbourhood, comfortably exceeding local averages. The home sits on a 2,500 sq ft lot with a detached garage, providing essential off-street parking and storage. While the basement exists, it is noted as not being renovated, indicating an area for future modernization or utility.
The property suits a specific buyer: those seeking an affordable entry into homeownership who value space over immediate turn-key condition. It’s a practical canvas for a hands-on buyer comfortable with gradual updates, or an investor looking for a land-value proposition with existing rental income potential. A less obvious perspective is its statistical standing; while the assessed value is modest citywide, the home ranks well within its local context for living space, suggesting it may offer better relative value and functionality on its street than a citywide price comparison implies.
Frequently Asked Questions
1. What does "above average" living area actually mean for this home?
Compared to similar homes on Bowman Avenue and in the Chalmers neighbourhood, this house offers significantly more finished living space (top 11% and 17% respectively), meaning you get more interior room than most comparable properties nearby.
2. Is the unrenovated basement a major concern?
It indicates the lower level is in original or utilitarian condition, not modernized or finished as living space. It should be inspected for foundational integrity, moisture, and systems, but it also represents a clear opportunity for future expansion or improvement without paying a premium for someone else’s renovation.
3. How does the 2021 sale price relate to today’s value?
The previous sale at $26,500 provides a historical data point, but market conditions have likely shifted. It primarily confirms the home’s longstanding status as an affordable property and suggests a relatively stable, lower-value market segment.
4. Who might this property NOT suit?
It is likely not ideal for buyers seeking a modern, maintenance-free home or those unwilling to take on projects. The age of the home (113 years) necessitates attention to aging components like wiring, plumbing, and the roof.
5. What is the significance of the detached garage?
In addition to parking and storage, a detached garage on a modest lot offers flexibility. It could serve as a workshop, a potential utility building for future yard or suite upgrades, and it avoids the moisture and noise transfer sometimes associated with attached garages in older homes.