Property Overview
This 1929 one-storey home at 269 Ottawa Avenue in Winnipeg's Chalmers neighbourhood presents a specific and straightforward opportunity. Its primary appeal lies in the value of its land. With a lot size of 4,606 sq ft, the property sits on a parcel that is significantly larger than most in the immediate area and neighbourhood, ranking in the top 7% on its street. The home itself is modest, with 667 sq ft of living space and an unrenovated basement, reflecting its assessed and recent sale value which are both notably below city-wide averages.
This property would suit a buyer looking for a land-focused investment or a very affordable entry point. It's ideal for someone comfortable with a major renovation or rebuild project, or potentially for an investor considering the lot's future development potential. The low footprint and large yard could also appeal to someone seeking minimal indoor maintenance and maximum outdoor space.
Frequently Asked Questions
1. Is this a move-in ready home?
No. The listing notes the basement is "not renovated," and the living area is quite compact. Buyers should budget for updates and likely view this as a project property.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the current state and size of the home itself, which is below average for Winnipeg. The value is more aligned with similar, smaller homes in the Chalmers area.
3. What is the main advantage of this property?
The land. The lot is substantially larger than those of neighbouring properties, offering above-average outdoor space and potential for expansion, which is rare for homes in this price range.
4. Are there any major concerns with a house built in 1929?
While the year built is typical for the street, a home of this age will require a thorough inspection. Potential buyers should anticipate aging infrastructure, such as plumbing, electrical, and the foundation, and plan accordingly.
5. How does the sale price compare to nearby homes?
It sold for $19,500 in late 2020, which was around the average for the street and neighbourhood at that time, but well below the Winnipeg average. This indicates it's in a more affordable market segment.