Property Overview: 365 Chalmers Avenue
Key Characteristics & Appeal
This is a compact, century-old home (built 1909) on a standard city lot in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its position as an affordable, no-frills entry point into homeownership. With 960 sqft of living space, it offers the basics without excess. The lot size is typical for the area, and the home's assessed value is modest and in line with local norms. It last sold in 2019 for $18,800, indicating a market focused on land value or fundamental shelter rather than the finished condition of the dwelling.
The property would suit a specific type of buyer: a hands-on investor looking for a rental opportunity with minimal upfront cost, or a highly budget-conscious first-time buyer willing to take on a significant renovation project. Its value is primarily in the land and the structure's potential, not in its current state. A less obvious perspective is that a home of this age and price in an established neighbourhood can represent a fixed-cost housing solution, insulated from the fluctuations of the rental market, for someone with the skills and tolerance to improve it gradually over time.
Frequently Asked Questions
1. What does "One & 3/4 Storey" mean for this home?
This style typically features a main floor and a second floor where the ceilings slope with the roofline, often creating cozy but potentially limited headspace in parts of the upper level. It's a classic Winnipeg architectural design.
2. The sale price seems very low compared to the assessed value. Why is that?
The 2019 sale price of $18,800 likely reflects the home's condition at that time, potentially requiring major updates. The current assessed value of $200k is an estimate for municipal tax purposes and may better represent the combined value of the lot and the structure in today's market.
3. Is the basement usable?
The listing notes a basement that is "not renovated." Buyers should anticipate a functional but unfinished space, suitable for utilities and storage, with the potential to be finished in the future.
4. How does the lot size compare?
At 3,444 sqft, the lot is very close to the average for both the Chalmers neighbourhood and the city overall. It provides a standard outdoor space for a city home but is not unusually large or small.
5. What are the implications of a 117-year-old home?
While offering classic charm, it necessitates a thorough inspection. Key considerations will be the condition of the foundation, plumbing, electrical systems, and insulation, which may not meet modern standards and could require investment.