Property Overview & Key Characteristics
This 1,015 sqft bungalow at 1225 Chamberlain Avenue, built in 1955, presents a practical entry point into Winnipeg’s Mynarski neighbourhood. Its primary appeal lies in its relative affordability, as evidenced by its assessed value of $256k, which sits significantly below both the neighbourhood and city-wide averages. The home offers a manageable living space on a standard 4,442 sqft lot, positioning it as a modest yet functional property.
The data suggests this home is best suited for first-time buyers or practical investors seeking a lower-cost foothold in the city. Its value is more aligned with its immediate street, where it ranks averagely, rather than the broader, more expensive area. A thoughtful perspective is that while the home itself is older and smaller than many city-wide comparables, this translates to a potentially lower property tax burden and a simpler, more affordable renovation canvas for a buyer willing to update an older home. It’s a property for those prioritizing financial accessibility over size or modern finishes.
Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value of $256k is a key figure for calculating property taxes, but market value is determined by current buyer demand. Given that this assessment is notably below area averages, it may indicate a pricing opportunity, but a professional appraisal or market analysis is needed for an accurate sale price.
2. What does the home’s age (1955) mean for a buyer?
As one of the older homes on its street, it likely has classic bungalow character but may require attention to aging components like plumbing, electrical, or the roof. This can be a consideration for maintenance budgets or renovation plans.
3. Is the living space sufficient for a small family?
At just over 1,000 sqft, the living area is compact. It would suit a couple, a single person, or a very small family comfortably, but may feel constrained for those needing multiple bedrooms or dedicated work-from-home spaces without considering an expansion.
4. Why is the assessed value so much lower than the neighbourhood average?
The home’s value ranks in the top 95% for Mynarski (meaning it’s valued lower than 95% of comparable properties in the area). This is likely due to a combination of its smaller size, older age, and potentially more modest condition or features compared to other homes in the broader neighbourhood.
5. How can I get the exact historical sale price for this home?
The site provides sold price ranges for non-logged-in users. To obtain the exact sale price from its last transaction in 2016, you must request a manual lookup via email, as this data is not sourced from the MLS system.