Property Overview & Key Characteristics
This two-storey home at 300 Martin Avenue W in Winnipeg's Chalmers neighbourhood presents a practical opportunity with a few standout features. Its primary appeal lies in the generous land size—the 4,527 sqft lot ranks in the top 6% for the street and top 15% for the neighbourhood—offering ample outdoor space that is increasingly rare. The home itself, built in 1971, is newer than most on the block and in the area, suggesting potentially fewer immediate concerns with aging infrastructure. A renovated basement and a detached garage add functional value.
The property suits a specific buyer profile. It’s ideal for a first-time homeowner, an investor, or a hands-on buyer who values land size and a solid structural base over a large living area. The living space (1,128 sqft) is modest but above average for the immediate area, making it efficient for a small household. The significantly below-average citywide assessed value indicates a more accessible price point, but it also suggests the home may be a value-play for someone willing to invest in updates over time to align it with broader city standards. This isn't a move-in-ready luxury property; its appeal is grounded in its lot, its relative modernity for the area, and its potential as a long-term holding.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the low assessed value affect property taxes?
A lower assessed value typically results in lower municipal property taxes compared to homes with higher valuations, which can be a financial advantage for the owner.
3. What does the detached garage condition mean for me?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or additional storage without impacting the home's living space. However, it may require separate maintenance and isn't as convenient as an attached garage in winter.
4. The home is newer than others on the street. What are the implications?
A 1971 build date is more modern than many neighbouring homes, which often means updated electrical wiring (like aluminum being less likely) and plumbing standards for its era. It may still require key system updates, but the starting point is often better.
5. The sale history shows it sold for $21.5k in 2017. What does that indicate?
This very low historical sale price strongly suggests the property was likely sold as a land value transaction or in a distressed state at that time. The subsequent renovation of the basement indicates investment has been made since then, fundamentally changing the property's condition and value.