Property Overview: 367 Tweed Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1912, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its efficient scale and recent updates, most notably a renovated basement. With 1,024 square feet of living space, the home is modestly sized but aligns with the typical footprint found on Tweed Avenue, making it a manageable property.

The standout feature is the land value proposition. The lot is smaller than average at 2,188 sqft, which translates to very low maintenance responsibilities—a significant plus for those seeking a home without demanding yard work. This efficiency is reflected in the home's assessed value, which is notably below the Winnipeg city average, positioning it as an accessible entry point into the market.

This property would best suit first-time buyers, downsizers, or pragmatic investors looking for a straightforward, updated home with minimal external upkeep. Its character is that of a comfortable, no-fuss residence rather than a sprawling project, offering a sensible balance between historic charm and modern livability through key renovations.

Section 2: Frequently Asked Questions

1. What does "renovated basement" typically mean for a home of this age?
While specifics should be verified by a viewing and inspection, this usually indicates foundational updates like moisture management, improved insulation, and finished living space. For a 1912 home, this is a major plus, addressing a common concern with older properties.

2. The lot size is noted as "below average." Is that a disadvantage?
It depends on your priorities. A smaller lot significantly reduces maintenance time and costs for gardening, snow clearing, and general upkeep. For buyers seeking a low-maintenance lifestyle or who prioritize indoor space over yard space, this is a practical benefit.

3. How does the assessed value compare to the last sale price?
The home was last sold in February 2018 for $20,500. The current assessed value is $21,400. This close alignment suggests stable, modest valuation in line with recent market activity in the immediate area.

4. What is the neighbourhood context for this property?
The provided data shows nearby homes on Tweed and Riverton Avenues with similar ages and sizes, indicating a consistent, established streetscape. The home's metrics are generally "around average" for its specific street, meaning it fits right into the local fabric.

5. Are there any obvious red flags from this data?
The data itself doesn't show red flags, but it highlights standard considerations for a 114-year-old home. While the basement is renovated, the overall structure and major systems (like plumbing and electrical) are likely original or partially updated, so a thorough inspection is essential to understand future maintenance priorities.