Property Overview
This 1977 bi-level home at 402 Bowman Avenue presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in a balance of relative modernity and a renovated basement, set on a standard city lot. With 760 sqft of living space, it is a compact home, yet its assessed value ranks above average for both its street and neighbourhood, suggesting a well-regarded location. The home lacks a garage and pool, positioning it as a straightforward, low-maintenance property.
It would suit first-time buyers seeking an entry point into homeownership without a major renovation project, thanks to the updated basement. It could also appeal to downsizers or investors looking for a manageable property with a solid foundation in an established area. A less obvious perspective is that its newer construction date (1977) compared to many area homes offers potential advantages in building materials and systems, possibly resulting in fewer immediate concerns than much older character homes.
Frequently Asked Questions
1. How does the lot size compare?
The land area is 2,500 sqft, which is around the average for Bowman Avenue but below the average for both the wider Chalmers area and the city as a whole. It provides a standard urban yard space.
2. What does the "above average" assessed value indicate?
While the home’s assessed value is below the Winnipeg city average, it ranks in the top 25% on its street and in Chalmers. This typically suggests the property is viewed favourably relative to its immediate peers, possibly due to its condition, updates, or specific location.
3. Is the living space sufficient for a family?
With 760 sqft of living area, the home is compact. It ranks below the city average for size. The renovated basement offers additional finished space, but the main floor living area is best suited for individuals, couples, or small families.
4. What is the significance of the 1977 build year?
Built in 1977, this home is newer than most on its street and in Chalmers, where average build years are 1935 and 1934 respectively. This can mean more modern construction standards, though certain era-specific updates (like windows or insulation) may still be worth evaluating.
5. Are there comparable recent sales?
The home itself last sold for $250,000 in June 2022. The provided comparable listings are based on assessed value, not recent sale prices, and are from various neighbourhoods. For true sales comparables, a review of recent closed sales in Chalmers for similar bi-level homes would be necessary.