Property Overview: 314 Johnson Avenue W, Winnipeg

Key Characteristics & Appeal

This is a classic one-and-a-half storey home built in 1908, presenting a straightforward opportunity in Winnipeg's Chalmers neighbourhood. Its key features include a modest 895 sqft of living space, a full but unrenovated basement, and a detached garage on a 2,878 sqft lot. The home last sold in August 2023 for $120,000, with a current assessed value significantly below both neighbourhood and city averages.

The primary appeal lies in its position as an affordable entry point into the market. It suits a specific buyer: those seeking a lower-cost property to live in while gradually making improvements, or an investor looking for a rental property with a manageable initial investment. The lot size is notably larger than many city-wide comparisons, offering valuable outdoor space relative to the home's footprint. A less obvious perspective is that a home of this age and assessed value may allow for a creative, budget-conscious restoration that respects its historical character without the premium of a fully updated or heritage-designated property.

Frequently Asked Questions

1. What does the "below average" assessed value indicate?
It primarily reflects the home's age, modest size, and lack of recent major renovations compared to newer or updated homes in the area. It is not necessarily an indicator of the property's structural condition or its potential market value.

2. Is the unrenovated basement finished?
The listing specifies the basement exists but is "not renovated." Buyers should assume it is in a rough, utility-state and budget accordingly for any finishing or moisture-proofing they may desire.

3. Who might this property not suit?
It is likely not a match for buyers seeking a move-in-ready home without any projects, or for those who require main-floor bedroom accessibility, as one-and-a-half storey designs typically feature bedrooms upstairs.

4. The lot seems large for the home. Is that an advantage?
Yes. The land area is above the neighbourhood average, providing more private outdoor space than many nearby properties. This adds value for gardening, recreation, or future expansion potential, subject to local zoning.

5. How significant is the age of the home (built 1908)?
It means the structure has proven durability but will require diligent maintenance. Prospective buyers should prioritize inspections for foundational integrity, wiring, plumbing, and insulation to understand the scope of any needed updates.