Property Overview: 291 Winterton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, century-old (1914) one-storey home in the Chalmers neighbourhood, presenting a very specific value proposition. Its key characteristics are defined by its modest scale: a 600 sqft living area on a 2,698 sqft lot, with an unfinished basement and no garage. The home last sold in 2017 for $110,000 and carries a current assessed value of $130,000, which is notably low compared to city-wide averages.
The primary appeal lies in its position as an entry-point property or a strategic land investment. The very low assessed value and purchase price make it one of the most accessible options in the city, suitable for a cash buyer or someone seeking minimal mortgage exposure. It would suit a hands-on buyer looking for a straightforward renovation project on a tight budget, or an investor considering the long-term value of the land relative to the existing structure. A less obvious perspective is its potential for someone needing a minimal footprint, like a small household or as a secondary in-city property, where the low carrying costs are the main feature rather than the home's condition. It’s important to note that, according to the data, this home ranks at or near the bottom of its street and area for metrics like land size, living area, and value, meaning it is an outlier in its immediate context—this underscores its role as a fixer-upper or value-play rather than a move-in ready home.
Section 2: Frequently Asked Questions
1. What does "unfinished basement" mean in this context?
It indicates the basement exists but is not developed into livable space (like a rec room or bedroom). It likely provides essential utilities and storage but would require significant work to finish.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's current state, age, and modest size relative to the broader market. The data shows it ranks in the bottom 2% city-wide for assessed value, aligning with its condition as a smaller, older home needing updates.
3. Who is this type of property best suited for?
It's best for budget-conscious buyers comfortable with renovation projects, investors focused on land value, or those seeking the lowest possible price point to enter the Winnipeg market. It is not suited for those seeking a turn-key or spacious home.
4. How does the lot size compare to the neighbourhood?
At 2,698 sqft, the lot is below the average for both Winterton Avenue and the wider Chalmers area. This means outdoor space is limited, but the smaller lot also translates to less maintenance.
5. The home sold for $110k in 2017. What does that tell us?
The 2017 sale price, close to the current assessed value, suggests the market has historically viewed this as a value-based property. It provides a benchmark, indicating that its market price has traditionally been anchored by its condition and utility, not by appreciation from renovations or expansion.