Property Overview
This one-and-three-quarter storey home at 437 Washington Avenue in Winnipeg's Chalmers neighbourhood presents a distinct value proposition. Built in 1914, its key characteristic is a generous living space of 1,188 sqft, which is notably above average for both its immediate street and the wider neighbourhood. The home sits on a 3,001 sqft lot and features a renovated basement. It does not have a garage or pool.
Its appeal lies in its spacious interior relative to many nearby comparables, offering more room than typical homes in the area. The renovated basement adds functional, modernized space. The property suits value-conscious buyers looking for above-average square footage in a mature neighbourhood, or investors seeking a land-value opportunity with a historic, character home. A less obvious perspective is that its very low assessed value, while indicating a potential bargain, also suggests the property may require significant updates to its original 1914 structure. It appeals to those comfortable with a project or who prioritize interior space over modern builds and higher valuations.
Frequently Asked Questions
What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or finish quality. A professional inspection is recommended to understand the condition and compliance of this work.
Why is the assessed value so much lower than the citywide average?
The assessed value of $16.3k is significantly below Winnipeg averages, reflecting the home's age (1914), its location in Chalmers, and likely the assessed value of comparable nearby properties. It indicates lower property taxes but often correlates with older building systems and potential need for maintenance.
How does the living area compare to nearby homes?
This home's living area is a standout feature. At 1,188 sqft, it ranks in the top 17% in Chalmers, meaning it offers more interior space than most direct neighbourhood comparables.
Is the land size suitable for expansion or redevelopment?
The 3,001 sqft lot is around average for the street and neighbourhood. While not exceptionally large, it is typical for the area. Any expansion or redevelopment plans would need to consult local zoning bylaws.
What is the significance of the "one & 3/4 storey" design?
This common historic style typically features a full main floor and a second floor under a sloped roof, where some rooms may have reduced ceiling height. It contributes to the home's character but may affect room layouts and ceiling height on the upper level.