Property Overview: 257 Winterton Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1930 on a standard-sized lot in the Chalmers neighbourhood. Its key feature is a renovated basement, adding valuable finished space to the modest 594 sqft main-floor living area. The home has no garage or pool.

The primary appeal lies in its affordability and efficient use of space, reflected in a relatively low assessed value. It represents an entry point into the Winnipeg market, particularly for a buyer comfortable with a smaller, character home. The renovated basement is a significant functional upgrade, offering flexibility for a recreation room, home office, or additional storage.

This property would best suit a first-time homebuyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance lifestyle. A thoughtful perspective for the right buyer is to see the smaller main footprint not as a limitation, but as a catalyst for efficient living and lower utility costs. While its size is well below city averages, it is more in line with the scale of older homes on its own street, offering a sense of neighbourhood consistency.

Section 2: Frequently Asked Questions

1. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal secondary suite. Buyers should verify its status with the city and ensure renovations meet all building code and permitting requirements.

2. How does the low assessed value relate to the sale price?
The assessed value for taxation ($19,600) is significantly lower than recent sale prices (e.g., $26,500 in 2023). This is common and reflects that assessed value is for tax purposes, not market value. The market price is determined by recent sales, condition, and demand.

3. What is the significance of the lot size?
At just under 3,000 sqft, the lot is around average for Chalmers and Winterton Avenue. It provides standard outdoor space for a home of this era but may not allow for major expansions, given the home's existing footprint.

4. The home sold for $180,000 in 2017 and $26,500 in 2023. What explains this drastic change?
This large discrepancy strongly suggests the 2023 sale was not a standard, arms-length transaction on the open market. It may have been a transfer between family members, a sale of the land value only, or a corporate transfer. The 2017 price is a more relevant indicator of its past market value.

5. What are the considerations for a home built in 1930?
While the basement has been renovated, a home of this age will likely have older core systems (like plumbing, electrical, and the foundation). A thorough inspection is essential to understand the condition of these original elements and plan for potential updates.