Property Overview: 368 Munroe Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a classic opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its generous living space relative to the area. At 1,224 sqft, the house offers significantly more interior room than most comparable homes on Munroe Avenue and in the immediate neighbourhood, making it a standout for its size within a modest price bracket. The property includes a detached garage and a full, unrenovated basement, providing functional storage or future development potential.
The lot, while below the city-wide average in size, is typical for the street. The home’s assessed value is above average for Chalmers, reflecting its larger living area, yet remains well below the city-wide average, indicating a accessible entry point into the market. This property would suit a pragmatic buyer—perhaps a first-time homeowner, an investor, or a downsizer—who values interior space over a large yard and sees potential in a character home that may require updates. It’s a practical choice for those who want more house for their dollar in a established community, without the premium of a newer build or a massive lot.
Frequently Asked Questions
1. What does "above average living area for the street" actually mean?
Compared to other homes on Munroe Avenue, this house ranks in the top 8% for interior square footage. Essentially, it offers more living space than 92% of its direct neighbours, which is its most distinguishing feature.
2. Is the basement finished?
No, the basement is noted as "not renovated." It is a full, unfinished space, which could be used for storage, utilities, and presents future finishing potential for a new owner.
3. How does the assessed value compare to the last sale price?
The home was last sold in December 2020 for $26,100. The current assessed value is $24,600, indicating a relatively stable value in line with that recent sale.
4. The home was built in 1914. What should I consider?
While offering classic charm, a home of this age will likely have older building systems (like plumbing, wiring, and insulation) that may not meet modern standards. A thorough inspection is essential to understand the condition and any needed updates or maintenance.
5. The lot seems smaller than the city average. Is that a drawback?
It depends on your priorities. The lot is typical for the street and neighbourhood. This often means lower maintenance and can contribute to the home's affordability. The trade-off is less private outdoor space, but the interior living area is notably larger than nearby homes.