Property Overview

This is a compact, century-old home 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, offering a detached home with a yard for a very low assessed value. The house itself is modest, with 640 square feet of living space and an unrenovated basement, presenting a clear fixer-opportunity or a simple, no-frills living space.

The property would suit a specific type of buyer: first-time purchasers or investors seeking a low-cost asset with land value. It's for someone comfortable with a home that is significantly smaller and older than area averages, viewing those traits not as drawbacks but as the source of its affordability. The very low property taxes, implied by the assessed value, are a practical benefit. This isn't a move-in-ready showhome; it's a practical foundation for building equity, whether through gradual updates or long-term holding.

Frequently Asked Questions

1. What does "below average" for living area and assessed value really mean for a buyer?
It means you are purchasing one of the smallest and most affordable detached properties in the city. This translates to lower purchase costs, lower property taxes, and lower utility bills, but also very limited indoor space. It's a trade-off that prioritizes land ownership and affordability over square footage.

2. The home was built in 1914. What should I be most concerned about?
While systems like wiring and plumbing may have been updated over the decades, a home of this age requires a thorough inspection. Key focuses should be the foundation, the state of the unrenovated basement for moisture issues, and the efficiency/condition of the heating system. The "unrenovated" basement is typical for the era but may have limited ceiling height and require significant work to finish.

3. The lot size is noted as "below average" for the street but is over 2,200 sq ft. Is that usable?
Yes. While it may be smaller than some neighbouring lots, a 2,264 sq ft lot still provides a good-sized private yard for its context—a notable advantage over a condo or townhouse. This outdoor space is a key asset of the property.

4. Who is this type of property not well-suited for?
It is not suited for buyers who need move-in-ready condition, multiple bedrooms, modern open-concept layouts, or who have a growing family needing more indoor space. It also may not appeal to those unwilling to manage the maintenance and potential surprises of a 110-year-old structure.

5. The last sale was in late 2022 for a price very close to the current assessed value. What does that indicate?
This suggests a stable, low-value property in a mature neighbourhood. It doesn't typically experience the volatile price swings of hotter markets. The consistency indicates a property whose value is firmly rooted in its land and basic utility, not speculative renovation potential or market frenzy.