Property Overview
This one-and-three-quarter storey home on Talbot Avenue, built in 1910, presents a straightforward opportunity centered on its land and location. With 912 sqft of living space and an unrenovated basement, the house itself is modest and requires updating. Its primary asset is the 3,634 sqft lot, which is notably larger than many city-wide averages and offers room for expansion or outdoor use. The appeal here is largely for value-focused buyers: investors, first-time buyers comfortable with a project, or those specifically seeking a lower-priced entry into the Chalmers neighbourhood. The very low assessed and recent sale values indicate this is a foundational property, suited for someone whose priority is securing land and a structure to customize over time, rather than a move-in-ready home.
Frequently Asked Questions
What does "one & 3/4 storey" mean?
This is a common Winnipeg architectural style where the second floor has sloped ceilings following the roofline, creating cozy but potentially space-efficient rooms. The full upper floor is usable but may have limited headroom in some areas.
Why is the assessed value so much lower than typical Winnipeg homes?
The assessed value reflects the property's current state, age, and modest size relative to the market. It indicates the home is likely valued primarily for its land and location, with the existing structure contributing less to the overall worth.
Is the large lot a benefit for future plans?
Yes. The lot size is above average for the Chalmers area, providing more flexibility than many neighbouring properties. This could be advantageous for adding a garage, creating larger garden spaces, or even future expansion, subject to local zoning bylaws.
What should I budget beyond the purchase price?
Given the age and mention of an unrenovated basement, buyers should plan for ongoing maintenance and potential updates. Initial priorities might include a thorough inspection of the foundation, roof, and major systems, with a budget for essential repairs before cosmetic improvements.
How does the sale history inform an offer?
The property sold for $13,500 in late 2022. This recent transaction at a similar price point suggests a stable, low-value market for this specific home, which can help in setting realistic expectations for its current market value and investment potential.