354 Martin Avenue W

Property Overview

This one-and-a-half storey home on Martin Avenue W in Winnipeg's Chalmers neighbourhood presents a practical opportunity. Built in 1914, it features a 1,135 sqft living area, which is notably above average for its immediate area, and sits on a 2,264 sqft lot with a detached garage. The property includes a basement that has not been renovated. Its last recorded sale was in February 2021 for $190,000, and it currently holds an assessed value of $210,000.

Key Characteristics & Appeal

The primary appeal of this property lies in its efficient use of space and its position as a relatively affordable entry point into the Winnipeg market. With a living area that ranks in the top 23% compared to similar homes on its street, it offers more interior space than many of its peers. This makes it a practical choice for a first-time buyer, an investor, or someone looking to downsize without feeling cramped. The detached garage adds functional value for vehicle storage or as a workshop.

Its assessed value is below the city-wide average, suggesting a lower property tax burden relative to many Winnipeg homes. The lot size, while smaller than average for the city, is typical for the established Chalmers area. A thoughtful perspective is that this home represents a "value-over-style" proposition: it prioritizes functional interior space and core affordability over modern finishes or a large yard, appealing to those focused on essentials. It would suit a buyer comfortable with a home of vintage character, possibly looking for a liveable property with the potential to update the basement over time.

Frequently Asked Questions

1. What does "above average" living area actually mean for this home?
It means that at 1,135 sqft, this home offers more interior space than roughly 77% of comparable properties on its own street. For the neighbourhood, it's also in the top 22% for size. This is its standout feature compared to local peers.

2. How does the lot size impact potential for expansion or outdoor space?
The 2,264 sqft lot is below the city average. This likely means a smaller backyard and may limit possibilities for large additions. However, it is a very typical lot size for the Chalmers area and requires less maintenance.

3. The home was built in 1914. What should I consider?
While the structure is over a century old, the data shows its build year is around average for its street and neighbourhood. Buyers should budget for potential updates to older mechanical systems, insulation, and windows, and are advised to get a thorough inspection.

4. What is the significance of the assessed value being "below average" citywide?
With an assessed value ranking in the top 90% citywide (meaning 90% of city homes are assessed higher), this property likely carries a below-average property tax bill compared to the Winnipeg median. This is a key ongoing cost savings.

5. Are the nearby "similar value" properties good indicators for this home's worth?
The listed properties with similar assessed values are in different neighbourhoods (like Varsity View and Westdale), which highlights how assessment values are specific to location. It's more relevant to compare this home to its recent 2021 sale price and to current listings in Chalmers for market value.