Property Overview: 382 Jamison Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1914 on a standard 2,545 sqft lot in the Chalmers neighbourhood. Its key characteristics are its modest scale and its position as a land-value proposition. The 640 sqft living area is notably smaller than most area homes, and the basement is unrenovated. There is no garage or pool.
The primary appeal lies in its affordability and lot potential. With a very low assessed value and recent sale price, it represents one of the most accessible entry points into the Winnipeg market. It suits a specific type of buyer: handy first-time purchasers, investors looking for a hold-and-rental property, or those viewing it as a tear-down or long-term redevelopment project. Its value is fundamentally in the land rather than the existing structure. A thoughtful perspective is that while the home itself is below average in size and condition, its lot size is actually above average for the immediate street, offering a relative advantage for future expansion or outdoor space in a mature neighbourhood.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the 2017 sale price?
Dramatic shifts in assessed value like this often follow a change in the property's condition or classification, such as being deemed uninhabitable or undergoing a significant change in use. It indicates the current valuation is based on the land value, not the dwelling.
2. Is this a move-in ready home?
No. The listing notes an unrenovated basement, and the home's age, small size, and low valuation suggest it requires significant updates or is suited only for very basic shelter. A thorough inspection is essential.
3. Who would this property be best for?
It's best for buyers with renovation skills and vision, or investors. It is less suitable for those seeking a turn-key or spacious family home without a major rebuild.
4. How does the lot size compare to the area?
The lot is roughly average for Jamison Avenue but smaller than the broader Chalmers and city averages. However, it is larger than the living area of the home would suggest, which is a key point—the land provides more potential than the current structure utilizes.
5. What does the sale history tell us?
The 2022 sale at $20,800, close to the current assessed value, confirms the property is now valued primarily as land. The $160,000 sale in 2017 shows what it was worth as a functional dwelling five years prior, highlighting a major shift in its condition or perceived utility.