Property Overview: 248 Munroe Avenue, Winnipeg

Key Characteristics & Buyer Profile

This is a compact, one-storey home in Winnipeg's Chalmers neighbourhood, built in 1964. Its key features include a renovated basement and a detached garage. The property presents a distinct value proposition centered on its land and location rather than its living space.

The primary appeal lies in its context. While the 996 sqft house is modest, the lot size (2,998 sqft) is notably larger than many in the immediate area, offering above-average outdoor space for the street. The home's assessed value ranks well above average for both Munroe Avenue and the broader Chalmers area, suggesting it is viewed as a solid asset within its local market. A significant, less obvious point is the home's age: built in 1964, it is considerably newer than most neighbouring houses, which could mean fewer issues with outdated infrastructure common in century-old homes.

This property would best suit a pragmatic, value-conscious buyer. It's ideal for a first-time homeowner seeking an entry point into the market with a move-in-ready basement, someone looking for a low-maintenance living space with a good-sized yard, or an investor attracted by its strong assessed value standing in the neighbourhood. It is less suited for those requiring substantial above-ground living space.

Frequently Asked Questions

1. How does the sale price relate to the assessed value?
The home recently sold for $33,600, which is significantly lower than its $300,000 assessed value. This typically indicates a sale under unique circumstances (such as to a family member) and is not a reflection of the general market value or the city's assessment for tax purposes.

2. Is the lot size a pro or a con?
It depends on your priorities. The lot is below the citywide average but is actually larger than most on Munroe Avenue. This means you get more private outdoor space than many nearby homes, but it's not an exceptionally large parcel by Winnipeg standards.

3. What does "above average" assessed value in Chalmers mean?
The home's $300,000 assessment ranks in the top 7% for the Chalmers neighbourhood. This suggests the city views the property, likely due to its lot, newer age, and renovations, as one of the higher-value homes in the area, which can be a positive indicator of its standing.

4. The living area seems small. Is the layout efficient?
At 996 sqft for the main floor, the living space is compact. The presence of a renovated basement is crucial, as it effectively doubles the usable space, making the overall footprint more practical for daily living.

5. The home is newer than others on the street. Why is that important?
With a 1964 build date, this home is roughly 40+ years newer than many area houses. This can translate to more modern construction techniques, potentially updated electrical or plumbing systems, and less immediate need for major foundational or structural repairs common in much older homes.