Property Overview: 297 Union Avenue W, Winnipeg

Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1907, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its efficient use of space and its position as a value-conscious entry point into the market. With 1,056 sqft of living area, the home is notably larger than many comparable houses on its street and in the immediate area, offering more interior room than one might expect from its vintage. The property features a detached garage and a basement, though the basement is noted as not being renovated.

The lot, at 2,263 sqft, is smaller than typical for the city but is consistent with the neighbourhood's profile. A key, less obvious perspective is the home's financial footprint: with a notably low assessed value and a last sale price well below the Winnipeg average, it represents a low-barrier option for ownership. This property would best suit first-time buyers, practical renovators comfortable with a project (starting with an unfinished basement), or investors seeking a straightforward rental property with a manageable tax burden. It’s a home that prioritizes function and affordability over grandeur or move-in-ready perfection.

Frequently Asked Questions

Q: What does "one-and-three-quarter storey" mean for this home?
A: This style typically features a full main floor and a second floor where the roofline slopes inward, reducing the amount of full-height wall space. It often results in cozy, character-filled upper rooms, but may have less outright square footage than a full two-storey layout.

Q: How significant is the "not renovated" basement condition?
A: It indicates the basement is in original or utilitarian condition, likely lacking finished walls, ceilings, or modern flooring. It provides valuable storage and mechanical space but will require investment to become a finished living area.

Q: The assessed value seems very low compared to the last sale price. Why?
A: Municipal assessed value for tax purposes is not a direct market appraisal and often lags behind current market values. The significant difference highlights that property taxes here are likely based on a much lower figure than the home's potential market price.

Q: Is the smaller lot size a major drawback?
A: It depends on your priorities. It means less yard maintenance and outdoor space, which can be a positive for those seeking a low-maintenance property. For gardeners or those wanting extensive outdoor recreation space, it would be a limitation.

Q: How does this home compare to others nearby?
A: The data shows it has more living space than many neighbours but sits on a smaller, more typical lot. It is an older home on a street and in an area where many homes are also historic, so it fits the area's character while offering slightly above-average interior space for its immediate context.