Property Overview: 266 Martin Avenue W, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1913, situated on a standard city lot in the Chalmers neighbourhood. Its key characteristics include a detached garage and an unfinished basement. The home’s primary appeal lies in its position as an accessible entry point into the Winnipeg market, underscored by a very low assessed value and recent sale prices. The living space is modest at 784 sq ft, which is smaller than most homes in the city but typical for the immediate area.
This property would best suit a specific type of buyer: a hands-on first-time purchaser, an investor looking for a straightforward rental property, or someone seeking a minimal footprint. Its value is fundamentally in the land and the structure's potential, rather than in move-in-ready finishes. A thoughtful perspective for a buyer is to recognize that while the home ranks below average in size and value city-wide, it is actually quite average within its own neighbourhood and street. This suggests you're buying into a stable, established area where this is a typical housing stock, not an outlier.
Frequently Asked Questions
1. What does the "below average" ranking for land area mean?
The lot is 2,263 sq ft, which is smaller than the Winnipeg average. However, it's important to note it's only slightly below the average for both Martin Avenue West and the Chalmers neighbourhood itself, meaning it's a standard-sized lot for this specific location.
2. Is the basement usable?
The listing specifies the basement exists but is "not renovated." It is unfinished, meaning it has raw space that could be developed in the future but is not currently living space.
3. How stable has the property's value been?
Recent sales show modest appreciation, selling for $17.5k in 2019 and $18.5k in 2022. This indicates a stable, low-value market for the home in its current condition.
4. What are the implications of the low assessed value?
A $16,500 assessment is exceptionally low, which typically translates to very low annual property taxes. This is a significant ongoing cost advantage for the owner.
5. How does this home compare to its immediate neighbours?
Based on the provided data for nearby addresses, this home has a smaller living area and a lower assessed value than some direct neighbours. This reinforces its status as a more compact, value-oriented option on the block.