Property Overview
This one-storey home at 313 William Newton Avenue is defined by its potential and its lot. Built in 1909, the 700 sqft house is compact and requires updating, featuring an unrenovated basement and no garage. Its primary asset is the 3,217 sqft lot, which is notably larger than many city-wide properties and offers room for expansion or outdoor projects. With a very low assessed value and historically low sale prices, this property represents an entry point into the Chalmers neighbourhood.
The appeal here is squarely for value-driven buyers looking for a foundation to build upon. It suits a hands-on investor, a first-time buyer comfortable with a renovation project, or someone seeking a land-value opportunity where the existing structure provides basic shelter while plans are made. A less obvious perspective is that its older construction and smaller living area, while often seen as drawbacks, translate to proportionally lower property taxes and utility costs, which can be a significant long-term advantage. It’s a property where the financial investment begins with the purchase, not the bidding war.
Frequently Asked Questions
What does "below average" for assessed value really mean?
It indicates the municipal assessment is significantly lower than typical homes in Winnipeg. This generally correlates with lower property taxes, but it also reflects the home's age, size, and condition relative to the market.
Is the land size a major advantage?
Yes, particularly in a city-wide context. The lot is larger than 85% of comparable city properties, offering more outdoor space and future potential than a typical infill lot, which is a key feature of this listing.
What should I expect with a 117-year-old home?
Expect character but also necessary updates. Systems like plumbing, electrical, and the foundation should be prioritized in an inspection. The unrenovated basement presents both a project and a blank slate.
Who would this property not suit?
It would not suit buyers seeking a move-in-ready home, those needing ample indoor space, or anyone unable to budget for immediate maintenance and eventual renovations.
How should I interpret the past sale prices?
The home last sold in 2020 for $13,500 and in 2017 for $10,600. These figures, well below typical Winnipeg prices, highlight its status as a value-priced property and are useful for understanding its investment trajectory, but the current market will determine today's value.