Property Overview: 293 Poplar Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1907, presents a classic character property with practical updates. Its key feature is a renovated basement, adding valuable finished living space to the 1,360 sqft footprint. The home sits on a modest, manageable lot with a detached garage.
The appeal here is multifaceted. For the neighbourhood of Chalmers, this home stands out with above-average living space and a higher-than-typical assessed value, suggesting it may offer more substance or updates than many immediate comparables. Its lot size is smaller than others on Poplar Avenue, which translates to less exterior maintenance. The recent sale in mid-2023 provides a clear, contemporary price benchmark for buyers.
This property would suit a practical buyer looking for a home with historic charm but without an overwhelming restoration project, thanks to the renovated basement. It’s ideal for someone who values indoor living space over a large yard and appreciates a home that already shows well within its immediate community. It could also be a strategic entry point into homeownership for a first-time buyer, given the manageable scale and clear recent sale data.
Section 2: Frequently Asked Questions
1. What does the "above average for the neighbourhood" ranking really mean?
The data shows that for Chalmers, this home’s living area and assessed value rank in the top 10% and 6%, respectively. This indicates that, compared to most homes in the area, it offers more interior space and is valued higher, often a sign of better condition or updates.
2. Is the older year of build (1907) a concern?
While the home is historic, the renovated basement is a significant mitigating factor, addressing a common concern in older homes. Buyers should focus the inspection on the core structure, roof, wiring, and plumbing to understand the true condition beyond the finished updates.
3. The lot is smaller than others on the street. Is that a disadvantage?
This depends on your priorities. A smaller lot means less yard work and lower exterior maintenance costs, which can be a benefit for those seeking a more lock-and-leave lifestyle or who prioritize indoor space. It does, however, limit expansive outdoor projects or gardening.
4. How should I interpret the 2023 sale price?
The sale price of $28.70k, close to the current assessed value, provides a very recent market valuation. It suggests a stable, non-speculative market for this specific home and can serve as a strong foundation for your offer price, unlike properties without recent sales history.
5. Who might this property not suit?
It may not suit buyers seeking a large, private backyard, extensive modern open-concept living, or those wary of any maintenance quirks associated with a 119-year-old structure, regardless of partial renovations. It’s also a compact fit for those needing substantial room for a growing family.