Property Overview: 262 Munroe Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1928 on a standard city lot in the Chalmers neighbourhood. Its key characteristic is its modest scale, with a living area of 682 sqft, which is notably smaller than most homes on its street and in Winnipeg overall. The home does feature a renovated basement, adding functional space. There is no garage, and the property last sold in July 2021 for $220,000.

The appeal lies in its simplicity and potential as an efficient, low-maintenance entry point into the housing market. It suits first-time buyers or investors seeking an affordable, straightforward property, particularly those who prioritize location and lot value over interior square footage. A thoughtful perspective is that its smaller size and older vintage, while ranking below average in statistical comparisons, translate to a relatively lower assessed value and potentially manageable property taxes, which can be a significant long-term advantage. It represents a practical, no-frills homeownership opportunity rather than a premium property.

Section 2: Frequently Asked Questions

1. How does the home's size compare to others?
At 682 sqft of living area, this home is smaller than approximately 94% of comparable properties on Munroe Avenue and 97% of homes citywide. It is a compact, efficient layout.

2. What does the "renovated basement" include?
The listing confirms the basement has been renovated but does not specify the scope or finish. This is a key detail to clarify with the seller or agent to understand the added living or utility space.

3. Is the assessed value a reliable indicator of the sale price?
Not directly. The assessed value for municipal taxes is $22,400, but the home sold for $220,000 in 2021. Assessed value is used for tax calculations and typically lags behind market value, which is determined by recent sales, condition, and demand.

4. What is the significance of the lot size?
The lot is 2,998 sqft, which is below average for the street but around a standard size for the neighbourhood. It offers outdoor space but may not allow for major expansions, given the home's footprint and typical zoning.

5. How does the year built (1928) affect the property?
As a home nearing 100 years old, it is older than most on its street and in the city. This implies potential for character but also necessitates a thorough inspection for the condition of foundational elements, plumbing, electrical systems, and updates to windows and insulation.