514 Talbot Avenue

Property Overview: 514 Talbot Avenue, Winnipeg

Key Characteristics & Appeal

This 745 sqft, one-storey home on a large 5,813 sqft lot in Chalmers presents a specific and compelling value proposition. Its key appeal lies in the significant disconnect between its modest, renovated living space and its substantial, above-average lot size. While the house itself is smaller than most in the area, city, and even on its own street, it sits on a property lot that ranks in the top 4% of the Chalmers neighborhood. This combination suggests potential for expansion, gardening, or outdoor living that is rare for the area.

The home is suited for first-time buyers, downsizers, or investors seeking a manageable footprint with a renovated basement and a detached garage. Its recent sale price indicates it trades at a notable discount compared to the city-wide average, offering an accessible entry point into the market. The above-average year of build (1954) for the immediate area is a practical advantage, potentially meaning fewer concerns with outdated infrastructure common in older homes. This isn't a luxury property, but a grounded opportunity centered on land value and a solid, updated foundation.

Frequently Asked Questions

1. Is the house too small?
At 745 sqft, the living area is below average for the street, neighborhood, and city. It’s a compact layout best for individuals, couples, or those comfortable with efficient living. The renovated basement adds functional space.

2. What is the main advantage of this property?
The lot size is the standout feature. At over 5,800 sqft, it is significantly larger than most in Chalmers (top 4%), offering private outdoor space and future potential that smaller lots do not.

3. How does its value compare?
The home recently sold for $250,000, which is well below the city-wide average sale price. Its assessed value is modest, suggesting lower property taxes, but it holds a stronger value position within its own neighborhood.

4. What does "above average year built" mean for a 1954 home?
While 1954 may seem older, it's actually newer than the average home in Chalmers. This relative comparison can mean updates to core systems may have occurred sooner, and the property might align better with modern building practices than many of its neighbors.

5. Who would this property not suit?
It would likely not meet the needs of a growing family requiring substantial immediate indoor space, or a buyer seeking a premium, turn-key home in a high-value district. Its appeal is based on practicality, lot potential, and value.