Property Overview
This one-storey home on Talbot Avenue is a classic Winnipeg character property built in 1907. Its primary appeal lies in its generous, above-average lot size of 4,845 sqft within the Chalmers neighbourhood, offering significant outdoor space and potential. The house itself is modest at 836 sqft of living area and features a detached garage and an unrenovated basement. Its most recent sale was in late 2021 for $190,000, and it carries a current assessed value of $170,000, which is notably below average for the city.
This property suits a specific buyer: someone looking for an affordable entry into homeownership with a clear value proposition in the land itself. It’s ideal for a hands-on buyer who sees potential in a gradual renovation, values a large private yard over a large house, or is comfortable with a home that offers function and history over modern finishes. It may also appeal to an investor considering the lot’s future development potential, given its size and location.
Frequently Asked Questions
What does "below average" assessed value really mean for this house?
It primarily reflects the home's age, modest size, and unrenovated condition compared to city-wide averages. For a buyer, it can mean lower property taxes, but it also signals that the value is heavily tied to the land rather than the current structure.
Is the large lot a common feature in this area?
Yes, for the Chalmers neighbourhood, this lot size is in the top 13%, meaning it's significantly larger than most nearby properties. On Talbot Avenue itself, it's in the top 20%. This is a key differentiator.
The home is over 115 years old. What should I prioritize in an inspection?
Beyond standard systems, special attention should be paid to the foundation, original wiring and plumbing, and the structural integrity of the unrenovated basement. The roof and insulation are also critical areas for an older home's efficiency and upkeep.
How does the 2021 sale price compare to the current assessment?
The home sold for $190,000 in late 2021, which is $20,000 above its current $170,000 assessed value. This difference isn't unusual, as assessed values for tax purposes can lag behind market sales, especially in a changing market.
What is the realistic living situation here for a new owner?
Buyers should be prepared to live in a compact, characterful space that may require updates over time. The appeal is the balance of an affordable, functional home with the rare benefit of a large yard for gardens, pets, or expansion, making it a project with a clear asset—the land.