Property Overview & Appeal
This one-and-a-half storey home, built in 1914, presents a classic Winnipeg character property with practical potential. Its key characteristics include a 896 sqft living area, a 3,446 sqft lot, and a detached garage. Notably, it features a basement that exists but is unrenovated. The home last sold in October 2021 for $150,000, with a current assessed value significantly lower, which may indicate an opportunity for value-conscious buyers.
The appeal lies in its position as an affordable entry point into the Chalmers neighbourhood. The lot size is generous for the area, offering room for gardening, expansion, or outdoor living relative to nearby homes. It would suit a first-time buyer, an investor looking for a hold-and-renovate project, or someone seeking a modest, character-filled home without a large mortgage. A thoughtful perspective is that while the living space is compact, the larger-than-average lot for the street provides a valuable balance of indoor and outdoor space that is increasingly rare in this price range. The unrenovated basement, while a project, offers a blank slate for future customization.
Frequently Asked Questions
1. What does "below average" assessed value indicate?
The assessed value is notably lower than both the recent sale price and averages for the city. This doesn't necessarily reflect market value but can suggest the property is assessed on its current condition, potentially leaving room for value increase through improvements.
2. Is the unrenovated basement a major concern?
It is a key consideration. It means there is functional space and potential, but any finishing or repairs will require additional investment and should be factored into your budget. A professional inspection is highly recommended to assess its condition.
3. How does the lot size compare meaningfully?
At 3,446 sqft, the lot is larger than many nearby properties and the Chalmers neighbourhood average. This is a significant asset, providing more private outdoor space than typical for the area and could be a long-term advantage.
4. What might the 1914 build date mean for me?
It signifies classic charm but also suggests older building materials and systems. While it has stood for over a century, updates to wiring, plumbing, insulation, and the roof should be carefully evaluated during an inspection.
5. Who are the most likely buyers for this property?
This home is most suited to practical buyers: a handy first-time purchaser comfortable with gradual updates, an investor considering a long-term rental with future renovation upside, or a downsizer seeking a manageable property with a good-sized yard. It is less suited for someone seeking a move-in-ready home with modern, finished spaces throughout.