Property Overview: 325 Washington Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1922, situated on a generously sized lot in the Chalmers neighbourhood. Its primary appeal lies in the combination of a renovated basement and a detached garage, offering valuable functional space and storage. The property stands out for its above-average land area within its immediate area, providing more outdoor space than many neighbouring lots. With a modest 616 sqft of living area, the home is efficient and manageable.
This property would suit a specific buyer: first-time homeowners or investors looking for an entry point into the market with a solid, renovate basement and a good lot size. It’s also a practical fit for those seeking a low-maintenance footprint or who value a larger outdoor space over a large interior. A thoughtful perspective is that this home represents a "land-value play" in many ways—the lot itself is a significant portion of the asset, offering future potential in a way a condo or townhome cannot.
Frequently Asked Questions
1. Why is the living area significantly smaller than nearby homes?
At 616 sqft, the main floor living space is compact. This is characteristic of many older, working-class homes built in the 1920s, designed for efficiency. The renovated basement provides crucial additional functional space.
2. How does the lot size compare to the area?
The lot is a key feature. At 4,504 sqft, it is larger than the average lot in both the immediate Washington Avenue area and the broader Chalmers neighbourhood, which is a notable advantage.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the finish or layout. This would be a key point for a viewing or inquiry to understand if it’s a finished living space, a modern utility area, or a combination.
4. Is the assessed value in line with recent sale prices?
The current assessed value is $240k. The home last sold in April 2021 for $255k, and prior to that in 2017 for $186k. This suggests the assessment is tracking relatively close to recent market activity in the area.
5. Who might this property not suit?
It may not suit buyers looking for a move-in-ready, spacious main-floor layout or a modern open-concept design. The smaller main living area and the age of the home (104 years) mean updates and maintenance typical of a century-old house should be expected.