Property Overview & Key Characteristics
This one-storey home at 328 Washington Avenue in Winnipeg's Chalmers neighbourhood presents a specific and practical value proposition. Its key appeal lies in its generous 4,431 sqft lot, which is significantly larger than most in the immediate area and neighbourhood, offering ample outdoor space. The home itself is modest in size at 631 sqft, with a renovated basement adding functional living space. Built in 1946, it sits on a quiet, established street with very close neighbours, as indicated by the proximity of adjacent addresses.
Its primary suitability is for a value-focused buyer—perhaps a first-time homeowner, an investor, or someone looking to downsize—who prioritizes land potential over a large existing footprint. The below-average citywide assessed value suggests a manageable tax burden and an accessible entry point into the market. This property is less about move-in-ready grandeur and more about foundation and possibility: the large lot allows for future expansion, gardening, or outdoor living, while the renovated basement provides immediate utility. It’s a home for someone comfortable with a compact main-floor layout who sees the long-term value in the land itself.
Frequently Asked Questions
1. Is the living space as small as it seems?
Yes. At 631 sqft on the main floor, the living area is notably compact, ranking below most homes locally. The renovated basement does provide additional finished space, making the total usable area more practical.
2. What does the "renovated basement" entail?
The details of the renovation are not specified in the provided data. A prospective buyer should investigate the scope, quality, permits, and whether it adds legal living space or primarily functional/rec space.
3. Why is the assessed value so much lower than the recent sale price?
The home sold for $200k in October 2020, while its assessed value is listed at $20.90k. This large discrepancy is typical; municipal assessed value for tax purposes is often a fraction of a property's market value and is based on a different valuation model and timeline.
4. What are the real implications of the large lot size?
The lot is over 4,400 sqft, which is well above the neighbourhood average. This is a major asset, offering more privacy, yard space, and potential for additions, a garage, or landscaping than most nearby properties. It future-proofs the property to a degree.
5. How does this home compare to others on the street?
The data shows it has a larger lot than most on Washington Avenue, but an older and smaller building footprint. The sale price was around the street average at the time of sale. It fits the area's character as an established, modest-sized home but with a standout lot size.