Property Overview: 304 Ottawa Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1921, presents a straightforward opportunity centered on its land and location in Chalmers. The key characteristic is the balance between a modest, unrenovated 528 sqft house and a decently-sized 3,003 sqft lot, offering potential for expansion or outdoor use. Its appeal lies in its affordability and simplicity, with a recent sale price and assessed value both around $180k-$190k, which is notably below the Winnipeg city average. The detached garage adds practical utility.
This property would suit a specific type of buyer: a first-time purchaser comfortable with a "blank canvas" home, an investor looking for a rental property with a stable baseline value, or someone seeking a manageable footprint with the optionality of the lot size for future projects. It’s less about move-in-ready perfection and more about fundamental value and potential. A thoughtful perspective is that, while the living area is small compared to modern standards, the lot size is above average for the immediate area, suggesting the property's long-term value may be more tied to its land than its current structure.
Section 2: Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It indicates the basement exists but is in original or functional condition, lacking modern finishes. Buyers should budget for any desired improvements and consider a thorough inspection for a home of this age.
2. How does the small living area (528 sqft) compare?
It is significantly smaller than most homes in Winnipeg, on Ottawa Avenue, and in the Chalmers neighbourhood. This emphasizes the property as a compact, efficient space or a candidate for a careful addition, given the lot size.
3. Is the assessed value a reliable indicator of the sale price?
In this case, the recent sale price ($180k) is very close to the assessed value ($190k), suggesting the market currently agrees with that valuation. It indicates a stable, transparent price point for the area.
4. What is the significance of the lot size rankings?
The land is around average for the street and neighbourhood but below average city-wide. This means you're getting a typically-sized lot for Chalmers, which may be a positive for community consistency, but shouldn't be viewed as an unusually large parcel for Winnipeg.
5. Who might the "similar assessed value" properties be relevant for?
The listed similar-value properties are all condo units on Grant Avenue. This highlights that for the price of this single-family home with its own land and detached garage, you are in the same price bracket as many condominiums in other neighbourhoods, illustrating a different type of value proposition.