Property Overview: 266 Jamison Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic one-storey home built in 1921, situated on a decent-sized lot in the Chalmers neighbourhood. Its primary appeal lies in its position as a straightforward, no-frills property with a clear value proposition. The home features a 755 sqft living area and a full, unrenovated basement, offering functional space with potential for future customization. A detached garage provides practical storage or workshop space.
The property’s standout feature is its land. At 3,055 sqft, the lot size is above average for Jamison Avenue itself, offering more outdoor space than many immediate neighbours. This presents opportunities for gardening, expansion, or simply more privacy. While the house is modest and older, its assessed value is consistent with the local area, suggesting a fair market entry point.
This home would best suit a practical buyer looking for an affordable entry into homeownership, possibly a first-time buyer or an investor. It’s ideal for someone comfortable with a property that is livable but not updated, viewing the basement and lot as a canvas for future projects rather than expecting move-in perfection. Its average rankings on the street for metrics like year built and value indicate a stable, predictable investment within its specific community context, not a standout anomaly.
Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It indicates the basement is functional and included, but in original or utilitarian condition. Expect a concrete floor, basic walls, and dated finishes. It’s usable for storage, laundry, or a workshop, but not a finished living space.
2. How does the lot size compare meaningfully?
While the lot is below the city-wide average, it ranks in the top 29% on Jamison Avenue. This means you’re getting more land than most properties on the same street, which can be a relative advantage for outdoor space or future property value.
3. Is the 1921 build date a concern?
The year is around average for the street and neighbourhood. While older homes require diligent maintenance for wiring, plumbing, and insulation, its age is not unusual for the area. A thorough inspection is always recommended.
4. The sale price was lower than the assessed value. Why?
The sale in late 2023 at $17,500k likely reflects the as-is condition of the property, particularly the unrenovated state. Assessed value is for municipal taxation and provides a benchmark, but the market price is determined by condition, timing, and buyer demand.
5. Who might this property not suit?
It may not suit buyers seeking a turn-key, modernized home or those unwilling to take on gradual updates. The modest living area and need for potential basement development also mean it’s less ideal for those requiring significant, ready-to-use space immediately.