Property Overview: 377 Washington Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1915, presents a classic character home opportunity on a generously sized lot in the Chalmers neighbourhood. Its primary appeal lies in a combination of space, location, and value. The 4,503 sqft lot is notably larger than most in the immediate area and neighbourhood, offering above-average outdoor potential. The home itself features a renovated basement and a detached garage.
The data suggests a property that stands out locally for its land size and assessed value relative to its peers on Washington Avenue and in Chalmers, while being more modest in scale and newer in age compared to the wider Winnipeg average. This creates a specific value proposition: you are acquiring a larger-than-typical lot with a solid, renovated foundation in a mature neighbourhood. It would suit a first-time buyer, an investor, or a downsizer looking for a manageable footprint without sacrificing yard space, and who appreciates the character and established streetscape of an older community. The renovated basement adds functional living space, a key update for a home of this era.
Frequently Asked Questions
1. What does the assessed value tell us about the property?
The assessed value of $250k is above average for both Washington Avenue and the Chalmers neighbourhood, but below the city-wide average. This typically indicates the property is considered a solid asset within its local market context, which can be positive for property taxes and perceived value among nearby comparable homes.
2. How does the lot size impact potential?
At 4,503 sqft, the lot is in the top 15-16% for the street and neighbourhood. This is a significant asset, offering more privacy, gardening space, or future expansion potential (subject to zoning and permits) than is commonly available on nearby properties.
3. What should I consider about the 1915 build date?
While the home’s age is above average for the area, the renovated basement is a major plus. A pre-purchase inspection is especially important to understand the condition of original elements like the foundation, plumbing, electrical systems, and the main-floor structure, ensuring updates meet current standards.
4. How does the living area compare?
At 960 sqft, the living space is average for the immediate area. This suggests a efficient, likely compact layout. Buyers should consider if the space meets their needs, balancing it against the benefit of the larger lot and the additional renovated basement space.
5. What is the context of the 2016 sale price?
The property last sold for $20.5k in 2016. This is an extremely low figure, not reflective of market value, and likely indicates a nominal transfer between parties (such as within a family) or a sale of land with a derelict structure. The current assessed value provides a more relevant, contemporary benchmark.