Property Overview: 248 McIntosh Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1907, situated on a standard-sized lot in the Chalmers neighbourhood. Its key appeal lies in its position as an entry-point property with a very low assessed value, which is significantly below averages for the street, neighbourhood, and city. The 810 sqft living area is modest but typical for the immediate area. The home has a basement, but it is not renovated, and there is no garage.

The property would primarily suit a specific type of buyer: those looking for a land-value opportunity or a foundational project. This includes investors or handy first-time buyers willing to undertake renovations, as the low entry price could allow for budget to be allocated toward modernization. It may also appeal to someone seeking minimal property tax obligations. A less obvious perspective is its potential for those interested in the character of early 1900s construction, willing to work with an existing footprint. However, it is not suited for buyers seeking move-in-ready conditions or larger living spaces.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's age, modest size, and likely the condition of the interior and unrenovated basement. It is characteristic of smaller, older homes in its specific area.

2. What does "for land value" mean for a buyer?
It suggests the existing structure adds minimal value compared to the lot itself. The primary worth of the purchase is the land, indicating the home itself may require significant investment or could be considered for future redevelopment, subject to zoning.

3. How does the lot size compare to nearby properties?
At 2,744 sqft, the lot is around the average for McIntosh Avenue and the Chalmers neighbourhood, but below the much larger city-wide average. You are not getting an unusually large lot, but a standard one for the area.

4. The home last sold in 2020 for $10,500. What does that indicate?
This very low sale price, close to the current assessed value, reinforces the property's status as a project or value-play. It suggests the market has viewed it primarily for its land or redevelopment potential for some time.

5. Are there any major concerns with a home built in 1907?
While offering character, a home of this age will require thorough inspections for foundational integrity, wiring, plumbing, and insulation. The unrenovated basement should be carefully checked for moisture issues. Modernization costs should be factored in above the purchase price.