Property Overview

This one-and-three-quarter storey home, built in 1914, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its balance of historic character and modern updates, most notably a renovated basement. With 1,045 sqft of living space, it offers a comfortable footprint that is typical for the immediate area. The lot size of 2,263 sqft is modest, particularly when compared to the city-wide average, suggesting a lower-maintenance yard. A notable characteristic is its assessed value, which sits significantly below both neighbourhood and city averages, indicating a potentially accessible entry point into the market. The home lacks a garage and pool, aligning with a no-frills, functional living profile.

This property would suit first-time buyers or pragmatic investors looking for a character home without a massive footprint or yard to maintain. Its below-average valuation metrics make it a candidate for those budget-conscious or interested in a value-play property. The renovated basement adds immediate functional living space, appealing to buyers who prioritize move-in readiness over undertaking major projects. A thoughtful perspective is that its smaller lot and average living area for the street represent a efficient use of space, potentially leading to lower utility and property tax burdens compared to larger, older homes.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean for this home?
This style typically features a full main floor and a second floor where the roofline slopes inward, reducing the square footage and ceiling height in parts of the upper level. It's a common design for homes of this era and often includes charming dormer windows.

2. How significant is the below-average assessed value?
While the sale price is determined by the market, a consistently low assessment relative to the area can suggest a more affordable property tax bill. It's important to verify if any recent renovations or additions are not yet reflected in this valuation.

3. The land area is noted as being in the "Top 90%" on the street. Is that good?
In this context, "Top 90%" means the lot size is larger than only 10% of comparable properties on the street—so it's a smaller lot. This can be an advantage for buyers seeking minimal yard maintenance.

4. What can nearby, recently sold properties tell me?
The listed comparable sales (257 and 222 Martin Ave W) are very similar in age, size, and style, providing a direct benchmark for condition, updates, and final sale price, which is crucial for understanding the local market value.

5. Are there any obvious concerns with a 110-year-old home?
While the renovated basement is a plus, the core structure, foundation, plumbing, and electrical systems are over a century old. A thorough inspection is essential to understand the condition of these older components and plan for future maintenance.