Property Overview

This is a compact, one-storey home built in 1922 on a standard city lot in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its position as an affordable entry point into the market, particularly for its land value. The house itself is modest at 623 square feet of living space with an unfinished basement, and it lacks a garage. Recent sales and assessment data consistently place its value well below averages for the street, neighbourhood, and city. This presents a clear opportunity for a buyer whose primary goal is to secure a property at a very low price point, with the intent to invest in a full renovation or rebuild over time. It would suit an investor looking for a hold-and-renovate project, a hands-on buyer seeking a footprint to customize from the ground up, or someone with a tight budget for whom land ownership is the immediate priority over move-in-ready condition. A less obvious perspective is that the home's smaller scale and lower taxes could also appeal to someone looking to minimize their physical and financial footprint, provided they are prepared for the necessary updates.

Frequently Asked Questions

1. What is the true condition of the property?
The listing notes the basement is "not renovated," which typically means it is unfinished and in original condition. Given the home's age and below-average metrics for living space and value, buyers should budget for significant updates or a full renovation.

2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's smaller size, age, and condition relative to most homes in Winnipeg. It is ranked in the bottom 10% citywide for assessed value, indicating it is priced for its land potential and basic structure rather than finished living space.

3. Is the land size suitable for an addition or rebuild?
The lot is approximately 2,313 square feet, which is a standard residential size for the area. While smaller than the city average, it is typical for the neighbourhood and street, and could accommodate an expansion or new build subject to local zoning bylaws.

4. What type of buyer is this property best suited for?
It is best suited for a buyer who views the purchase primarily as acquiring land with a existing structure. This includes renovation-focused homeowners, builders, or investors with the capacity to manage a substantial improvement project.

5. How does this property compare to its immediate neighbours?
The data shows that, even on the same street, this home's living area and assessed value rank in the bottom 10% among comparable properties. This underscores its status as a smaller, more value-priced option on the block.