Property Overview: 342 Martin Avenue W, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1911, situated on a standard city lot in the Chalmers neighbourhood. Its primary appeal lies in its simplicity and potential. With 680 square feet of living space and an unrenovated basement, it presents a straightforward, manageable footprint. The lot size, while below average for the city, is typical for the immediate area, offering modest outdoor space with minimal upkeep.
The property is best suited for a specific type of buyer. It would be an ideal entry point for a first-time homeowner comfortable with a project, or an investor looking for a rental property with a low entry cost. Its scale makes ongoing property taxes and maintenance costs relatively predictable. A thoughtful perspective is its potential as a "right-sized" home for someone seeking to downsize without moving into a condo, offering ground-level living and a small yard. The recent sale in August 2024 suggests it is a turnkey property, but the unrenovated basement indicates room for future customization or value addition according to an owner's needs and budget.
Frequently Asked Questions
1. What does "below average" in the rankings actually mean for this home?
It primarily means the home is smaller and older than many properties in Winnipeg. However, within its own street and neighbourhood context, it is quite typical. This translates to a lower purchase price and assessed value, which can be an advantage for budget-conscious buyers.
2. Is the basement finished or usable for storage?
The listing specifies the basement exists but is "not renovated." It is likely a classic, unfinished cellar space suitable for mechanical systems and general storage, but not designed as living space.
3. What is the parking situation without a garage?
The property has no garage. Parking would be on-street. Prospective buyers should visit to assess typical parking availability on Martin Avenue W.
4. How does the recent sale price compare to the assessed value?
The home sold for $16,400 in August 2024, which was slightly above its last assessed value of $15,900. This close alignment suggests the sale was near market value at that time.
5. Are the mechanical systems (furnace, wiring, plumbing) original due to the home's age?
While the home is from 1911, the systems have almost certainly been updated at some point. A key step for any buyer would be to determine the age and condition of the roof, furnace, and electrical service during an inspection.