Property Overview & Appeal
This one-and-a-half storey home, built in 1914, presents a straightforward opportunity in Winnipeg's Chalmers neighbourhood. Its key characteristics include a 1,020 sqft living area and a 2,760 sqft lot, both of which are very typical for the immediate street and area. The basement is noted as unrenovated, and the property does not have a garage or pool.
The primary appeal lies in its position as an affordable, no-frills entry point. With a notably low assessed value that sits well below city averages, it suits buyers with a limited budget or those seeking a minimal property tax burden. It would be a practical fit for an investor looking for a rental property with lower carrying costs, a hands-on buyer planning a gradual, sweat-equity renovation, or someone seeking the absolute most land for their dollar in the city, as the lot size is significantly larger than many Winnipeg properties. A less obvious perspective is that a home of this age and value in a stable area could represent a "blank canvas" with fewer heritage restrictions or modern finish expectations, allowing for creative, personalized upgrades over time.
Frequently Asked Questions
1. Is the basement finished?
No, the basement is noted as being unrenovated. Buyers should budget for any desired improvements and consider a thorough inspection for a home of this age.
2. What is the typical buyer for a home at this price point?
Given the low assessed and recent sale value, this property typically attracts investors, first-time buyers prioritizing affordability, or those interested in a value-add project.
3. How does the lot size compare to others?
The 2,760 sqft lot is average for Tweed Avenue and Chalmers, but it ranks in the top 8% citywide, meaning it's substantially larger than most residential lots in Winnipeg.
4. What should I consider about the home's age?
Built in 1914, the home is older than the Winnipeg average. Prospective buyers should factor in potential maintenance or updates needed for older plumbing, electrical, and the structure itself.
5. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's specific characteristics, location, and market value. Its low value relative to the city reflects its smaller living area, older age, and the market conditions of its immediate area compared to newer or more developed neighbourhoods.