Property Overview: 334 Tweed Avenue

Key Characteristics & Appeal

This home is a one-and-three-quarter storey character property built in 1907, situated on a notably spacious 5,505 sqft lot in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its generous proportions, both in land and living space. The lot size is well above average for the immediate area, ranking in the top 11% on its street, offering significant outdoor space and potential. Similarly, the 1,374 sqft living area is substantial, ranking in the top 7% locally, providing more interior room than most neighbouring homes.

The property suits a specific buyer: someone seeking a character home with a large yard who is prepared for a project. The basement exists but is noted as not renovated, and the home's age (119 years) means systems and structure require thorough inspection. It’s an opportunity for a buyer looking for a footprint to customize, valuing lot size and interior space over modern finishes. A thoughtful perspective is the value proposition; the last sale was $150k in 2016, and the current assessed value is low relative to the city-wide average, which may indicate an entry point into the market with a focus on land value and future improvement equity rather than immediate move-in condition.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for older Winnipeg homes. It typically means the second floor has full-height ceilings in the center of the house, with sloped ceilings or knee walls in the rooms under the eaves, creating cozy, character-filled bedrooms.

2. The assessed value seems very low compared to the last sale price. Why?
Municipal assessed value for taxation purposes often lags behind market sale prices and is calculated using a specific formula. The low assessment here likely reflects the property's age and condition rather than its potential market value, which is influenced by lot size, location, and comparable sales.

3. How significant is the lot size?
At 5,505 sqft, the lot is a standout feature. It's significantly larger than the average lot in Chalmers (approx. 3,432 sqft), offering ample space for gardening, expansion, or outdoor living—a rare find in established neighbourhoods.

4. What should I consider about a home from 1907?
While full of character, a home of this age requires a diligent inspection. Key focuses should be the foundation, roof, wiring, plumbing, and heating systems. The unrenovated basement suggests utilities and structure are likely in original or older condition, which will factor into renovation plans and budgets.

5. Are the nearby "comparable" properties similar?
The listed nearby properties show a mix. Some have similar age and assessed value, while others differ greatly in living area or assessment. This highlights the diversity in the area and that this property's value is particularly tied to its above-average living space and lot size, not just its age or assessment.