Property Overview: 448 Washington Avenue, Winnipeg
Section 1: Key Characteristics & Buyer Profile
This is a compact, one-storey home built in 1914, situated on a standard-sized lot in the Chalmers neighbourhood. Its key characteristics are defined by its modest scale and value. The living space is 637 sq ft, which is notably smaller than most homes in the area and city. It features a basement that is present but not renovated, and there is no garage or pool. The home last sold in June 2022 for $160,000, and its current assessed value is significantly lower than the Winnipeg average.
The primary appeal of this property lies in its affordability and potential as a foundational investment. It suits first-time buyers or investors seeking an entry point into the market with lower upfront costs. The lot size, while not large, is consistent with the immediate street and could be a blank canvas for future expansion or landscaping. A thoughtful perspective is that a home of this age and size offers a lower-cost, lower-maintenance lifestyle, potentially appealing to those looking to minimize their footprint and utility costs. It is not suited for those requiring ample living space, modern finishes, or garage parking.
Section 2: Frequently Asked Questions
1. Is the basement finished or usable for living space?
No. The listing specifies the basement exists but is "not renovated." It should be considered unfinished utility space.
2. How does the assessed value compare to the last sale price?
The home is assessed at $17,600, but it last sold for $160,000 in 2022. This large discrepancy is common and highlights that municipal assessed value is for taxation purposes and does not reflect current market value.
3. What does the "below average" ranking for living area mean practically?
With 637 sq ft, this home's living area is in the bottom 10-11% compared to nearby homes on Washington Avenue and in the Chalmers area. Buyers should expect a very compact floor plan, likely with fewer or smaller rooms than typical houses.
4. Are properties on this street similar in size and value?
Generally, yes. The data shows that for land area and assessed value, this property ranks similarly to others on Washington Avenue (e.g., in the bottom 25%). This suggests a consistent, established streetscape of modest homes.
5. What is a less obvious consideration with a home from 1914?
While charm and character are potential upsides, the age implies that major systems like wiring, plumbing, and the foundation may be original or outdated. Any renovation plans should budget for potential updates to meet modern standards and efficiency.