Property Overview: 386 Tweed Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its above-average living space (1,182 sq ft) compared to nearby homes, offering more room than many in the immediate area. The property features a renovated basement and a detached garage on a standard city lot.
The home suits buyers looking for a straightforward, no-frills property with established character. It’s particularly well-matched for first-time buyers or investors seeking an entry point into the market, given its historically lower price point compared to the city-wide average. A thoughtful perspective is that while the home is older, its assessed value ranks above average for its street, suggesting it may be a relatively well-maintained or updated property within its specific peer group. Its appeal is grounded in practicality and value within its local context rather than luxury features.
Frequently Asked Questions
1. What does the "above average" living area ranking actually mean?
It means that at 1,182 square feet, this home offers more interior space than most comparable homes on Tweed Avenue and in the broader Chalmers neighbourhood, where averages are around 980-953 sq ft.
2. Why is the assessed value so much lower than the Winnipeg city-wide average?
The assessed value reflects the local market conditions in Chalmers and is typical for homes of this age and type in the area. The city-wide average is skewed significantly higher by newer builds and properties in more expensive neighbourhoods.
3. Has the property value increased since its last sale?
The home sold for $22,200 in September 2020, and its current assessed value is $22,100. This indicates a stable value in line with the recent sale price, with no significant assessed increase in that period.
4. What are the implications of the home's age (1914)?
While the home has historic character, it requires a thorough inspection. Potential buyers should pay close attention to the condition of foundational elements, plumbing, electrical systems, and the quality of the basement renovation.
5. How does the lot size compare?
At 3,577 sq ft, the lot is fairly typical for the street and neighbourhood but is considered below average when compared to all residential lots across Winnipeg. It provides a standard urban yard space.