Property Overview: 388 Munroe Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on a standard-sized lot in Chalmers presents a practical opportunity. Built in 1950, its key strength is space efficiency: with 1,182 sqft of living area, it offers significantly more room than most comparable homes on its street and in the immediate neighbourhood. This suggests a well-utilized floor plan. A recently renovated basement adds modern, functional living space, while the detached garage provides flexible storage or workshop potential.
The appeal here is value and practicality within a mature community. The home’s assessed value is modest and below the city-wide average, positioning it as an accessible entry point into the market. It would suit first-time buyers, downsizers, or investors looking for a straightforward, low-maintenance property with updated fundamentals. A thoughtful perspective is that while the home isn't new, its above-average living space for the area means you're paying for usable square footage rather than premium lot size or location within the city—a smart trade-off for those focused on interior space and renovation value over a sprawling yard.
Section 2: Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the low sale price from 2018 relate to today’s value?
The 2018 sale price of $21,500 reflects a specific market condition and likely the home’s state prior to the basement renovation. The current assessed value of $26,300 is a more relevant baseline, though the final market price will be determined by recent comparable sales and current demand.
3. What does “above average living area for the street” mean for daily life?
It means that for this specific block and neighbourhood, you likely get more bedroom, storage, or living room space than many neighbouring homes of a similar style and vintage, which can be a notable comfort advantage without a premium price tag.
4. Are there any concerns with a 1950s build?
While the basement has been renovated, the main structure is 76 years old. A thorough inspection is essential to assess the condition of core systems like wiring, plumbing, and the roof, which may be original or nearing the end of their service life.
5. What is the neighbourhood character like?
Located in Chalmers, the property sits on a street with homes of a similar age and scale. The area has a mix of long-term residents and newer buyers. Its "above average" rankings within Chalmers for lot size, year built, and living area suggest it is in a relatively established and stable part of the neighbourhood.