363 Union Avenue W

Property Summary: 363 Union Avenue W, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1913, situated on a modest lot in the Chalmers neighbourhood. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. With 760 sqft of living space, an unrenovated basement, and no garage, it is a straightforward property that presents a clear, lower-cost opportunity.

The home would suit a specific type of buyer: first-time purchasers or investors looking for a foothold property without a high financial barrier to entry. Its below-average assessed value and sale price, relative to the street, neighbourhood, and city, are its defining features. A thoughtful perspective for the right buyer is viewing this as a "blank canvas" property—its smaller scale makes potential updates or renovations more manageable in scope and cost than a larger home. It’s also worth noting that, while the lot is smaller than many in the city, it is relatively average for the immediate area, suggesting a fit with the established streetscape.

Section 2: Frequently Asked Questions

1. What does "below average" for assessed value and sale price really mean?
The data shows the home’s last sale price and its city assessment are significantly lower than typical Winnipeg homes. This primarily indicates affordability but also suggests the property is likely modest in condition and finishes compared to the broader market.

2. Is the small lot size a major drawback?
It depends on your needs. The land area is below the city average but is more in line with other properties on Union Avenue W. It offers lower maintenance, which can be an advantage for some.

3. Who might this property not be suitable for?
It would likely not suit buyers looking for a move-in ready home, those needing multiple bedrooms or ample storage, or anyone requiring parking for multiple vehicles, as there is no garage.

4. The home was built in 1913. What should I consider?
While the plumbing, electrical, and foundation of a 113-year-old home should be carefully inspected, its age is fairly typical for the Chalmers neighbourhood. The unrenovated basement means its condition and potential for moisture should be a key focus.

5. How are the "rankings" and "top %" numbers useful?
They provide quick context. For example, a "Top 94%" rank for land area in Chalmers means the lot is smaller than 94% of homes in the neighbourhood. These metrics help you understand how this property compares to local and city-wide benchmarks at a glance.