418 Munroe Avenue

Property Overview

This 1952-built, one-storey home on Munroe Avenue in Winnipeg's Chalmers neighbourhood presents a straightforward opportunity. Its key appeal lies in a renovated basement and a detached garage, sitting on a lot that is notably spacious for the immediate area. With a modest 812 sqft of living space, the house itself is compact, but the nearly 4,000 sqft lot offers room for expansion or outdoor projects. The assessed value is strong for Chalmers, ranking well above the neighbourhood average, which suggests a solid foundation of value for the area.

This property would suit a practical, value-oriented buyer. It's ideal for a first-time homeowner comfortable with a smaller interior footprint but who values a large yard and a renovated basement for extra space. It could also appeal to an investor looking for a character home with rental potential, given its desirable lot size and functional updates. The data indicates you're paying more for the land and location within Chalmers than for the size of the house, making it a play on potential rather than immediate luxury.

Frequently Asked Questions

1. Is the house too small?
At 812 sqft, the living area is below average for both the street and the city. However, it is very close to the average for the Chalmers neighbourhood itself. The renovated basement effectively adds functional space, making it more livable than the main floor square footage alone suggests.

2. How does the lot size compare?
The 3,996 sqft lot is a standout feature. It ranks in the top 25% for size within the Chalmers neighbourhood, meaning it's significantly larger than many nearby properties. This provides valuable outdoor space and potential not found on a standard city lot.

3. What does the assessed value tell me?
The $27,800 assessment is above average for Chalmers (top 12%), indicating the city views this property favorably compared to its neighbours. However, it's below the city-wide average, which is typical for the area. This points to a property that holds its value well within its local market context.

4. Is the 1952 build date a concern?
The year built is actually newer than the average home in Chalmers. While systems like plumbing or electrical may need attention due to age, the house is not among the oldest in the neighbourhood, which can be a relative positive.

5. Who are the likely neighbours?
The listing shows several nearby properties on the same block, suggesting a stable, established streetscape. The similar assessed values of homes on Munroe Avenue indicate a consistent economic profile among immediate neighbours.