Property Overview
This 1945-built, one-storey home on Winterton Avenue in Chalmers presents a practical and straightforward opportunity. Its key appeal lies in a renovated basement and a land size that is notably generous for its neighbourhood, offering above-average outdoor space for the area. With a modest 732 sqft of living space, the house itself is compact, suggesting a focus on efficiency and low-maintenance living.
The property would suit first-time buyers seeking an entry point into the market, investors looking for a character home with rental potential (especially with a finished basement), or downsizers who value a smaller interior footprint but still want a decent-sized yard. Its assessed value ranks well above average for both its immediate street and the Chalmers neighbourhood, indicating it is perceived as a solid asset in its local context, even if it falls below the citywide average due to its smaller size and older age.
A less obvious perspective is the value of its established location. The home exists in a mature area with settled infrastructure and a clear performance history, which can offer predictability compared to newer developments. Additionally, the significant discrepancy between its last sale price and its assessed value highlights the importance of understanding market dynamics versus municipal valuation for tax purposes.
Frequently Asked Questions
1. How does the renovated basement add value?
A finished basement increases the usable living area, offering potential for a recreation room, home office, or separate living space. It’s a key functional upgrade that enhances livability in a home with a smaller main floor.
2. Is the lot size a major advantage?
Yes, particularly for the neighbourhood. At just under 4,000 sqft, the lot is larger than most in Chalmers. This provides valuable outdoor space for gardening, entertaining, or future expansion, which is a premium in established areas.
3. What does the above-average assessed value for the street mean?
It suggests the municipal assessment views this property more favourably than many of its direct neighbours, often reflecting factors like the renovated basement, condition, or lot desirability. However, market sale price is determined by buyers, not assessment.
4. Who might find the living area too small?
The 732 sqft main floor is compact. Families needing multiple bedrooms or dedicated spaces might find it limiting. It is best suited for individuals, couples, or those who utilize the basement to effectively double their functional space.
5. How significant is the lack of a garage?
For some buyers, this is a notable consideration, especially in Winnipeg winters. It requires planning for street parking or the potential cost of adding a shed or carport. The ample lot size does provide room for such an addition if desired.