Property Overview: 386 Union Avenue W, Winnipeg

Section 1: Key Characteristics & Appeal

This is a modest, one-storey home built in 1940 on a standard city lot in the Chalmers neighbourhood. Its key characteristics include an unrenovated basement, a detached garage, and 843 square feet of living space. The appeal of this property lies squarely in its land value and potential, rather than in its current structure. The assessed value is notably low, positioning it well below the Winnipeg city average, which suggests it may be suited for a value-driven purchase.

The property would primarily suit two types of buyers. First, investors or builders looking for a land play in a stable, established area, where the existing home may be considered for significant renovation or replacement. Second, it could appeal to extremely budget-conscious buyers seeking a functional starter home with the understanding that the basement and overall condition require immediate attention and investment. A less obvious perspective is that its very "averageness" for the immediate street and neighbourhood—in terms of lot size, age, and value—means it faces little risk of being over-improved for the area, providing a clear and realistic baseline for any project.

Section 2: Frequently Asked Questions

1. Is this a move-in ready home?
No. The listing explicitly notes the basement is "not renovated," and the home's age (1940) and below-average living area suggest it is a candidate for updates. Buyers should budget for immediate repairs and modernizations.

2. Why is the assessed value so much lower than the Winnipeg average?
The assessed value reflects the property's current state, smaller size, and older age relative to the broader city market. It is much more in line with averages for the specific street and Chalmers neighbourhood, indicating it is typical for this local area.

3. What is the potential here for an investor?
The primary potential is in the land and the possibility of adding value through renovation or redevelopment. The detached garage is an asset, and the lot size is consistent with the area, providing a standard canvas for improvement.

4. How does this home compare to others on the same street?
The data shows it is very typical for Union Avenue W. It ranks around the middle of the pack for lot size, year built, living area, and assessed value compared to its 228 street peers. It is not an outlier in any category.

5. What should I consider about the neighbourhood, Chalmers?
The provided data compares the home only to other properties within Chalmers, where it again ranks as average. This indicates a consistent, established community character. Prospective buyers should research area amenities, schools, and future development plans separately to understand the full context.