Property Overview
This 1.5-storey home at 388 Ottawa Avenue in Winnipeg's Chalmers neighbourhood presents a specific and practical opportunity. Built in 1914, it sits on a 3,002 sqft lot, which is a standard size for the immediate area. The key characteristic is its 1,150 sqft of living space, which is notably above average for both Ottawa Avenue and the Chalmers neighbourhood, suggesting a more spacious interior than many nearby homes of a similar vintage. The property features a basement, but it is not renovated, and there is no garage or pool. Its assessed value is around $210,000, aligning with the local average but positioned below the wider Winnipeg city average.
The appeal lies in its potential and location. It suits a buyer comfortable with a project—someone looking for a character home with good interior space on a standard city lot, who is prepared to update an older basement and possibly other original features. It’s a grounded choice for a first-time homeowner, an investor, or a practical buyer who values more interior square footage over a newer build or premium lot size. A less obvious perspective is that its "around average" metrics for the street and neighbourhood indicate stability and predictability, offering a way to enter the market without the premium prices of more trendy areas, while the above-average living area provides immediate functional value.
Frequently Asked Questions
1. What is the significance of the "above average" living area?
Compared to most homes directly on Ottawa Avenue and in the Chalmers area, this house offers more interior space (1,150 sqft vs. a local average of about 853-953 sqft). This means you're likely getting more rooms or larger rooms than is typical for the immediate location.
2. What does "basement, not renovated" typically imply?
This usually indicates an unfinished or partly finished basement that retains its original, functional state. It likely has concrete walls and floors, and may house the furnace and utilities. It offers storage and potential for future development but will require investment to become a modern living space.
3. How does the year built (1914) affect the property?
A home from 1914 will have character but also requires careful attention to aging components like wiring, plumbing, and insulation. It's notably older than the average home on its street (avg. ~1936), so a thorough inspection is essential to understand the condition and any needed updates.
4. Why is the assessed value "around average" locally but "below average" citywide?
The $210,000 assessment is typical for Chalmers and Ottawa Avenue, reflecting local market values. It falls below the Winnipeg city average because many other neighbourhoods have newer homes, larger lots, or higher market prices, pulling the overall city average upward.
5. Who would this property not be suited for?
It would not suit buyers seeking a move-in-ready home with modern, finished amenities throughout, or those who prioritize a large lot, a garage, or a newer construction. It's also less ideal for anyone unwilling to take on potential renovation projects, particularly in the basement.