Property Overview: 448 Chelsea Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 1954 bungalow in Munroe West presents a solid, grounded opportunity. Its key appeal lies in its strong positioning within the immediate neighborhood. With 962 sqft of living space, the home is typical for the area, but it stands out with a generous 5,851 sqft lot—significantly larger than many of its neighbors. This above-average land size offers valuable outdoor space and potential.
The home’s assessed value of $319k ranks well above the local averages for both Chelsea Avenue and the broader Munroe West area, suggesting it is perceived as a higher-value property in its specific context. This creates an interesting dynamic: while the house itself is of average size and age for the street, it occupies a premium lot and carries a premium assessment locally.
This property would suit a practical buyer who values space and established neighborhoods over new construction. It’s ideal for someone looking for a manageable-sized home with room for a garden, play area, or future expansion. The buyer likely prioritizes the character and stability of a mature area like Munroe West and understands the value of a larger lot in a city setting. It may also appeal to an investor or homeowner who sees potential in the disconnect between the home's modest size and its substantial lot.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold between $300k-$350k in December 2021. Its current $319k assessment aligns closely with that sale range, indicating the city’s valuation is consistent with the recent market transaction.
2. Is the living space small compared to the city average?
Yes. At 962 sqft, the home is below the Winnipeg city-wide average. However, it is very much in line with the typical home size in both Munroe West and on Chelsea Avenue itself, where averages are 958 sqft and 978 sqft respectively.
3. What does the "above average" lot size mean practically?
With a lot size ranking in the top 17% for Munroe West, you have approximately 1,000 more square feet of land than the area average. This translates to more privacy, larger yard space, and potentially more flexibility for additions, decks, or landscaping than many nearby properties.
4. The home was built in 1954. What should I consider?
While newer than many homes on the street and in the area, a 70-year-old home will likely have had major systems updated. A thorough inspection is essential to understand the condition of the roof, foundation, plumbing, and wiring, and to identify any past renovations.
5. How can I get the exact historical sale price?
The exact sold price is not publicly displayed due to industry regulations. You can request the precise figure by emailing the site directly; they will provide a manual lookup of the transaction history at no cost.