Property Overview: 384 Bowman Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1913, situated on a standard-sized lot in the Chalmers neighbourhood. Its key characteristic is its modest scale, with a living area of 644 sqft, which is notably smaller than most homes in the area and city. However, it features a renovated basement, adding functional space. The assessed value is very modest and around average for its immediate street, suggesting an accessible entry point into the market.
The appeal lies in its simplicity and potential as a straightforward investment. It suits a specific type of buyer: first-time purchasers or investors seeking a low-cost entry into homeownership, or those looking for a manageable, no-frills property without the upkeep of a larger home or yard. A less obvious perspective is its value for someone needing a primary residence with a separate, renovated basement space that could generate supplemental rental income to offset costs, making the overall financial footprint very light. It’s not a home for those seeking ample indoor space, but rather for those prioritizing financial pragmatism and location over square footage.
Section 2: Frequently Asked Questions
1. Is the house in good condition given its age?
The listing specifically notes a renovated basement, suggesting updates have been made. However, as a 113-year-old home, prospective buyers should budget for a thorough inspection to assess the condition of major systems like wiring, plumbing, and the foundation.
2. Why is the living area so much smaller than nearby homes?
At 644 sqft, this home is significantly more compact than neighbourhood averages. This reflects its older design and possibly its original purpose as a modest worker’s cottage. It indicates efficient use of space but limits room for large families or extensive belongings.
3. How does the assessed value compare to the last sale price?
The home was last sold in March 2017 for $16,200. The current assessed value is $19,500. This indicates a modest increase in its official valuation over seven years, but the sale price will be determined by the current market.
4. What is the neighbourhood like?
It’s located in Chalmers. The data shows that for key metrics like lot size and year built, this property is generally around or below the neighbourhood average, suggesting it’s in a mature, established area with a mix of home sizes and values.
5. There’s no garage. Is street parking readily available?
The listing confirms there is no garage. Buyers should visit the street at different times to gauge on-street parking availability, which is common in older Winnipeg neighbourhoods.