Property Overview: 445 Jamison Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1922, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its efficient scale and its position as a land-value proposition. With 1,010 sqft of living space, the house itself is notably above average for its immediate street and offers manageable, cozy dimensions. The lot size of 2,747 sqft is typical for the area, providing a decent outdoor space without excessive maintenance.
The property’s standout characteristic is its very low assessed value, which places it well below city-wide averages. This suggests the home is likely in need of modernization, as it features an unrenovated basement and no garage. Its appeal is therefore targeted: it suits a hands-on buyer looking for an entry point into the market, an investor considering a hold-and-renovate strategy, or someone primarily interested in the land itself for future redevelopment. It’s a straightforward, no-frills property where the value is in the potential and the location rather than in immediate move-in condition.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's current state, market area, and recent sales. This significant discount typically reflects the age of the home (over 100 years), the lack of recent renovations, and the absence of features like a garage, indicating it is a fixer-upper or land-value opportunity.
2. Is the living space adequate for a small family?
At 1,010 sqft, the living area is above average for Jamison Avenue and could accommodate a small family or couple, though the unrenovated basement presents either a project or necessary storage/utility space. The one-and-a-half storey design often means bedrooms are on the upper level.
3. What does the "Top X%" ranking mean for the land area?
The rankings compare this property to others. For land area, it ranks in the Top 42% on its street (better than 42% of neighbours), meaning its lot is fairly typical for the immediate area. City-wide, however, the lot is smaller than most, ranking in the Top 92% (only better than 8% of lots city-wide), which is standard for older, central neighbourhoods.
4. The home last sold in 2020. What does that recent sale price indicate?
The sale price of $15,500 in early 2020 is consistent with the low assessed value and suggests the property has been positioned as an affordable entry point or investment for some time. It provides a clear recent benchmark for the property's market value in its current condition.
5. What are the immediate considerations for a potential buyer?
A buyer should prioritize a thorough inspection to understand the condition of the 104-year-old structure, systems, and the unrenovated basement. Budgeting for updates, understanding zoning for potential future use, and recognizing that there is no garage for vehicle storage are essential first steps.