Property Summary: 473 Tweed Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home on a standard city lot in the Chalmers neighbourhood. Built in 1907, it offers a classic, no-frills layout with 792 sqft of living space and an unrenovated basement. The detached garage and a land area of 3,754 sqft are practical features for the area. Its appeal lies in its simplicity and position as an entry-point property. The assessed value is very low compared to the citywide average, translating to correspondingly low property taxes. Recent sale prices, while significantly higher than past transactions, remain accessible.
This home would suit a specific buyer: a hands-on first-time purchaser, an investor looking for a straightforward rental, or someone seeking the absolute minimum in ongoing property tax burden. It’s not a move-in-ready showhome but a functional canvas. A thoughtful perspective is that while the home itself is modest, its lot size is above average for Chalmers, offering relative outdoor space and potential for expansion or redevelopment in the long term, subject to zoning.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical Winnipeg homes?
The assessed value reflects the market value estimate for taxation purposes. For this older, smaller home in its specific neighbourhood context, the value is understandably far below the citywide average, which includes newer and much larger properties.
2. What does "Top X%" in the rankings mean?
It indicates how this property compares to a group of peers. For example, a "Top 39%" rank for land area means the lot is larger than 39% of comparable lots on the same street. It’s a relative performance indicator, not an absolute grade.
3. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should assume it is in original, utilitarian condition and budget accordingly for any desired improvements or moisture control.
4. How significant is the jump in sale price from 2021 to 2022?
The price increased from $12.6k to $24.5k between late 2021 and mid-2022. While a large percentage increase, the absolute dollar value change remains relatively small in the broader market. It may reflect increased demand for entry-level assets during that period.
5. What are the main considerations for a buyer here?
The primary considerations are the condition and maintenance needs of a 119-year-old structure, the cost and scope of any desired updates, and the intended use. It is likely best viewed as a long-term hold with a focus on utility rather than short-term resale value.