Property Overview: 382 Martin Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1913, situated on a modest 2,264 sqft lot in the Chalmers neighbourhood. Its key characteristics are its simplicity and affordability. The 690 sqft living area is notably smaller than most area homes, and the basement exists but is unrenovated. There is no garage or pool.
The primary appeal lies in its position as an accessible entry point into the Winnipeg market. With a recent sale and assessed value of $140k—significantly below city averages—it represents a low-barrier option. It suits a specific type of buyer: first-time purchasers or investors seeking a straightforward, low-cost property. It could be a candidate for a live-in renovation project, a rental property, or simply a functional starter home with minimal financial complexity. A less obvious perspective is that its smaller size and lot offer reduced maintenance and utility costs, which can be a significant long-term benefit. Its average age for the street suggests it fits the neighbourhood's historic character, potentially appealing to someone comfortable with an older home's realities.
Section 2: Frequently Asked Questions
1. What exactly does "basement, not renovated" mean?
This indicates the basement is unfinished. It likely provides basic utility space and storage but is not configured as livable space, such as a rec room or apartment.
2. How does the small living area compare to nearby homes?
At 690 sqft, this home's living space is in the bottom 15-20% for the local area. Neighbouring and comparable listings show living areas typically ranging from 850 to over 1,000 sqft.
3. Is the $140k price reflective of the condition?
Given that the assessed value is also $140k and it sold for that price recently, it suggests the market views this as a fair value for a smaller, older home in as-is condition. The price primarily reflects the land and basic structure.
4. What is the neighbourhood like?
Chalmers is an established, older neighbourhood in Winnipeg. The consistent early-1900s build dates on this street and nearby listings indicate a historic, stable community with homes of similar vintage.
5. Could this be a good rental property?
Its low purchase price could make it viable for a rental investment, keeping carrying costs down. However, the smaller size and unrenovated state would influence the rental price and tenant pool. Due diligence on local rental demand and regulations is essential.