Property Overview
This one-storey home at 371 Winterton Avenue in Winnipeg's Chalmers neighbourhood presents a compelling opportunity centered on its land and location. Built in 1950, the house itself is modest at 832 sq ft, but it sits on a larger-than-average lot for the area (4,497 sq ft). A key feature is the renovated basement, adding functional living space, and the property includes a detached garage. Its most recent sale was in July 2022 for $310,000, a price that ranked well above average for the immediate street and neighbourhood at that time.
The primary appeal lies in the combination of a generous, usable lot and a home with updated fundamentals. It suits a practical buyer—perhaps a first-time homeowner, a downsizer, or an investor—who values outdoor space and sees potential in the existing renovation work, rather than someone seeking a large or modern interior. A thoughtful perspective is that while the living space is compact, the above-average lot size offers valuable flexibility for gardening, expansion, or simply more privacy than is typical in the area. Additionally, its assessed value remains relatively high for the local context, suggesting the property is consistently viewed as a solid asset within its specific market.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal, separate suite. Buyers should verify its compliance with local regulations if considering rental income.
2. How does the 2022 sale price relate to today's value?
The $310,000 sale was notably high for the immediate area at that time. Current market conditions and any further updates to the property will determine present value, making a new appraisal essential.
3. What does "above average" lot size mean for this property?
With a lot size in the top 17% for Chalmers, you get more yard space than most nearby homes. This is a key advantage for privacy, outdoor activities, or future projects like a shed or deck.
4. The house seems small. Is there room to grow?
The 832 sq ft main floor is compact. However, the renovated basement already adds living space, and the larger lot could potentially allow for an addition, subject to zoning and permit approvals.
5. Why is the assessed value so much lower than the sale price?
Municipal assessed value for taxation purposes often lags behind market sale prices and uses a different valuation method. The 2022 sale price is a clearer indicator of the home's market value at that time.