Property Overview
This one-and-a-half storey home, built in 1914, presents a straightforward opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its position as an affordable entry point into the housing market, particularly for its land value. With 944 square feet of living space, a basement (unrenovated), and no garage, it is a modest and functional property. The lot size of 3,381 sqft is below average for the city but is more typical for the local area.
The home suits buyers looking for a low-cost foundation—whether that's a first-time purchaser comfortable with a project, an investor seeking a rental property with a manageable entry cost, or someone interested in the long-term land value. Its assessed and recent sale values are significantly below Winnipeg averages, which translates to lower property taxes and a lower financial barrier to entry. A thoughtful perspective is that this property represents a "blank canvas" on a established street; its value is less about its current state and more about the potential held in its lot and structure, appealing to those who see opportunity in fundamentals rather than finishings.
Frequently Asked Questions
1. What is the true cost of entry here?
Beyond the sale price, the significantly below-average assessed value suggests ongoing property taxes will be comparatively low. However, buyers should budget for updates, as the home is older and the basement is unrenovated.
2. Is the lot size a disadvantage?
While the land is below the citywide average, it is closer to the norm for the Chalmers area. For many buyers, this is a typical urban lot, sufficient for a home and garden without extensive maintenance demands.
3. Who might this property not suit?
It is likely not a match for those seeking a move-in-ready home, significant modern space, or attached parking. The lack of a garage and the home's older age require a buyer comfortable with compromise or future investment.
4. How does the 1914 build year affect things?
The age is average for the neighbourhood, meaning services and trades in the area are familiar with homes of this era. While potential for character exists, it also implies that systems (like wiring or plumbing) may need inspection or updating.
5. What does the sale history indicate?
The home sold previously in 2017 for a price close to its current assessed value. This stability suggests it is viewed as a land-value property or a steady rental, rather than one subject to rapid market appreciation based on its existing structure.