Property Overview: 416 Martin Avenue W
Key Characteristics & Appeal
This bi-level home at 416 Martin Avenue W in Winnipeg's Chalmers neighbourhood presents a compelling mix of modern convenience and solid value. Its standout feature is its age: built in 2020, it is a notably newer construction compared to most homes on its street and in the wider area, ranking in the top 1%. This translates to modern building standards, newer systems, and minimal immediate maintenance concerns.
The home offers 1,245 sqft of living space, which is above average for the local area, providing comfortable room for a small family or couple. A key feature is the renovated basement, adding functional living space. The lot size of 3,395 sqft is typical for the street, offering adequate outdoor space.
Its appeal lies in being a turn-key, modern property in an established neighbourhood. It suits first-time homebuyers seeking a move-in-ready home without the worries of an older property, or investors looking for a newer asset with potentially lower upkeep costs. The property's assessed value is significantly higher than area averages, reflecting its newer condition and desirability. A thoughtful perspective is that this home offers a "best of both worlds" scenario: the character and maturity of an older community without the aging infrastructure typically associated with it.
Frequently Asked Questions
1. How does the lot size compare?
The land area of 3,395 sqft is around average for Martin Avenue W and the Chalmers neighbourhood, but below the much larger average lot size city-wide. It provides a standard urban yard.
2. Why is the assessed value so high compared to nearby homes?
The assessed value of $40.50k ranks in the top 1% for the street and area, primarily due to the home's new construction year (2020). This is a direct reflection of its modern build, materials, and systems compared to the many century-old homes in the vicinity.
3. What does the sales history indicate?
The home sold for $36.70k in February 2021, a price well above average for the street at that time. Prior to being rebuilt, the property sold for $10.50k in 2017, underscoring the value added by the new construction.
4. Is the living space spacious for the area?
Yes. With 1,245 sqft, the living area is above average for both the immediate street and the Chalmers neighbourhood, ranking in the top 12-13%. It offers more interior space than many comparable local properties.
5. What type of property is it, and what are the amenities?
It is a bi-level home. It includes a renovated basement but does not have a garage or a pool. The focus is on the modern, low-maintenance living space rather than premium exterior amenities.