352 Washington Avenue

Property Overview & Appeal

This one-and-a-half storey home, built in 1914, is a compact and historically grounded property on a standard-sized lot in Chalmers. Its key appeal lies in its position as an entry-point opportunity. With a modest 786 sqft of living space, an unrenovated basement, and a detached garage, it is a straightforward, no-frills home. The assessed value and recent sale price are significantly below city averages, highlighting its primary role as an affordable land-and-structure package rather than a move-in-ready dwelling.

It would suit a specific type of buyer: an investor looking for a rental property with foundational equity, a hands-on renovator seeking a project with a low initial cost basis, or a buyer prioritizing minimal mortgage debt over modern finishes. A less obvious perspective is its potential as a "placeholder" property in a transitioning area—allowing an owner to enter the market, build equity through incremental improvements, and benefit from any future neighbourhood appreciation without a large upfront investment.

Frequently Asked Questions

1. Is this a move-in ready home?
No. The listing notes the basement is "not renovated," and the overall condition, age, and size suggest it requires updates and likely some repairs. It is best considered a project or investment property.

2. Why is the sale price so much lower than the assessed value?
The recent sale price of $15,500 is notably below its $160,000 assessment. This typically indicates the property was sold in as-is condition, possibly requiring significant work, or was part of a non-arms-length transaction (like between family members). It sets a very recent benchmark for its value as a basic asset.

3. What are the main considerations for a renovator?
Given its age (1914), a thorough inspection for foundational integrity, wiring, plumbing, and insulation is essential. The compact living area presents a design challenge to maximize space. The unrenovated basement and detached garage offer potential to add functional space or value.

4. How does the lot size compare to the area?
At just under 3,000 sqft, the lot is below average for Winnipeg but is fairly typical for the immediate Washington Avenue area. It offers standard outdoor space for a home of this vintage but is not an unusually large or subdividable parcel.

5. What is the long-term potential here?
The potential is tied to the investment in improvements. While not on a premier lot, its affordability provides a buffer for renovations. Successful updates could align it more closely with neighbourhood averages, but its smaller size and age will always position it as a more modest, value-oriented property in the area.