Property Summary: 293 Union Avenue W, Winnipeg

Section 1: Key Characteristics & Appeal

This is a modest, century-old one-and-a-half storey home in the Chalmers neighbourhood, built in 1910. Its key appeal lies in its affordability and potential, positioned well below average city-wide prices. With 816 sqft of living space, it is a compact home, but its lot size of 2,263 sqft is notably larger than many in its immediate area, offering valuable outdoor space relative to the house itself.

The home suits first-time buyers, investors, or handy individuals looking for an entry point into the market with a project. It has an unfinished basement, no garage, and no pool, indicating it's a straightforward, no-frills property. Its most recent sale was in 2020 for $110,000, with a current assessed value of $170,000, suggesting room for value growth through updates. A thoughtful perspective is that its older vintage and smaller footprint could mean lower utility costs and less maintenance if core systems are sound, while the larger-than-average lot for the street provides a rare opportunity for expansion, gardening, or simply more private outdoor space in an established area.

Section 2: Frequently Asked Questions

1. What does the ranking data (e.g., "Top 90%") actually mean for this property?
It's a comparative benchmark. For example, the land area is in the "Top 90%" on its street, meaning only 10% of comparable lots on Union Avenue W are smaller. This indicates that, while the lot is below the city average, it is actually a relatively spacious lot for its specific block.

2. Is the assessed value of $170,000 a realistic sale price?
Assessed value is for municipal tax purposes and is often different from market value. Given it sold for $110,000 in 2020, the current assessment may reflect broader market increases. The sale price will be determined by current condition, market demand, and what a buyer is willing to pay.

3. What should I consider with a 116-year-old home?
While full of character, prioritize an inspection of foundational integrity, wiring, plumbing, and the roof. The upside is that these older homes were often built with durable materials; the key is understanding what major systems may need upgrading or repair.

4. The home has no garage. How is parking?
The listing does not specify dedicated parking. This is a crucial point to investigate, as on-street parking permissions, availability, and winter parking bans in the Chalmers area will be a daily practicality.

5. What is the potential here versus a more modern, renovated home?
This property is a canvas. Its value proposition is the land size and the price point, allowing you to build equity through renovations over time. A more modern home offers immediate move-in convenience but at a higher price, with less opportunity to add value through your own improvements.