Property Overview: 348 Tweed Avenue, Winnipeg

Key Characteristics & Appeal

This well-situated one-storey home in Chalmers is defined by its substantial and above-average lot size of 5,516 sqft, placing it in the top 6% for land area within both its immediate street and neighbourhood. This is the property's most significant feature, offering ample outdoor space and potential in a city context where larger lots are increasingly rare. The home itself, built in 1954, is newer than many in the area and features a renovated basement. With a living area of 1,068 sqft, it provides comfortable, efficient space without being oversized.

The appeal lies in a clear value proposition: a premium-sized lot with a solid, updated, and manageable house. Its exceptionally high assessed value relative to its street and neighbourhood suggests it is viewed as a superior asset in the local market. This property would ideally suit a buyer looking for a long-term home with room to garden, entertain, or potentially expand outdoors, who prefers the character and established feel of Chalmers but values a home from the mid-century era over an older, heritage property. It’s also a sensible fit for those who want space without the maintenance burden of a much larger house.

Frequently Asked Questions

1. What does the high assessed value relative to the neighbourhood actually indicate?
It primarily indicates that the municipal assessment views this specific property—considering its lot, building, and improvements—as more valuable than the vast majority of homes nearby. This often reflects the desirable lot size and recent renovations, but it's important to distinguish this from current market value, which is determined by buyers.

2. Is the detached garage a standard feature for the area?
Given the age and density of many homes in Chalmers, a detached garage is a valuable but not universal feature. It adds practical utility and storage, enhancing the property's appeal compared to homes with only on-street parking or carports.

3. The home sold for $300k in 2021, but then for $22.5k just a few months prior. What does this mean?
The $22.5k sale in early 2021 was likely a nominal transfer between family members, a trust, or to consolidate ownership. The $300k sale later that same year represents the true, arms-length market transaction and is the relevant figure for understanding its recent market value.

4. How does the 1954 build year compare to nearby homes?
At 72 years old, this home is notably newer than many in its immediate vicinity, as comparable homes on the street average a build year of 1924. This can mean updated foundational materials, electrical, and plumbing systems compared to much older heritage properties, potentially reducing some maintenance concerns.

5. The lot is large, but is the living space sufficient for a family?
At just over 1,000 sqft with a renovated basement, the living space is functional for a small family or couple. The trade-off is intentional: you are investing significantly in the land. The layout and basement finish will be key factors, as the upper-level square footage is efficient rather than expansive.