Property score
38.5
Below average
Overall 38.5 · Older than most nearby homes
884 sqft (bottom 47%) · Built in 1907 (27 yrs older than avg)
Located in a average-income area with median household income of ~53.6k
Transit 100.0 · 2-min walk to transit with 8 nearby routes · Within 500m: 1 dining spot, 1 school, 4 parks, and 4 place of worships nearby
Living Area
Near average
7% smaller than neighborhood avg.
Year Built
Below average
27 yrs older than neighborhood avg.
Mother tongue
English · 73%Tagalog · 5%
Past 10 years Chalmers sales snapshot (~80% of all data)
1,193
206.3k
$226/sqft
1934
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38.5 is composed by the two sections below.
Property Score
Community Score
Chalmers
How to read: Share of sales in each ~$50k price band for “chalmers” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110683
$54K
Median household income
$63K
Average household income
23%
Low income (LIM-AT)
0.2
Income inequality (Gini)
3.1
P90 / P10 ratio
38%
Single-person households
20%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
388 Thames Avenue — 10 amenities found within 500 m, across 4 categories, including 1 dining (nearest 256 m), 1 education (nearest 351 m), 4 parks (nearest 288 m).
Chalmers · WPS public data · 2026
Annual incidents
67
2026
vs. city avg
+127%
relative to avg
Year-over-year
▼ -94%
vs. prior year
Primary type
Property
51%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 13% | Bottom 13% | Bottom 2% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Property Overview
This one-storey home at 388 Thames Avenue in Winnipeg's Chalmers neighbourhood is a property defined by its land and its history. Built in 1907, it sits on a 2,762 sqft lot, which is a comfortably sized parcel for the immediate area. The living space is a modest 884 sqft with an unrenovated basement and no garage. The most striking characteristic is its exceptionally low municipal assessed value, which places it in the bottom tier citywide. This indicates a property that is likely a candidate for significant updating or represents a land-value opportunity.
Its appeal lies in its potential and affordability. For a buyer with vision, it offers a chance to own a character home in an established neighbourhood, with a lot size that provides room to breathe and garden. It would suit a hands-on buyer looking for a foundational project—whether that’s a gradual renovation, a potential rebuild, or an investment in the land itself. It is not a turn-key home, but a base for creating value.
Frequently Asked Questions
What does the low assessed value really mean?
The assessed value is for municipal tax purposes and is typically below market value. However, a value this low, especially compared to nearby homes, usually reflects the property's current condition and the fact it hasn't been significantly modernized. It signals that the purchase price may be more aligned with the land value and the shell of the home.
How does the lot size compare practically?
At 2,762 sqft, the lot is larger than the citywide average for homes but is quite typical for the Chalmers area. This means you get a decent-sized urban yard without standing out on the street, offering a balance of space and neighbourhood consistency.
Are there any major concerns with a home from 1907?
While full of character, a 119-year-old home will require careful inspection. Key considerations will be the state of the foundation, the electrical and plumbing systems, insulation, and the roof. The unrenovated basement should be checked for moisture issues. Budgeting for these fundamental updates is as important as planning for cosmetic changes.
What is the neighbourhood like?
Chalmers is an older, established community in Winnipeg. The listing shows a mix of early 1900s homes and some newer builds (like the 2012 reference property on Riverton), suggesting an area with a variety of residents and potentially evolving streetscapes.
Is this a good investment?
This depends entirely on the buyer's strategy. As a primary residence, it's an affordable entry into homeownership with long-term equity potential through renovation. As a pure investment, it would likely require substantial capital for renovation before renting or flipping, or a long-term hold strategy based on land value appreciation. The recent 2022 sale price provides a very recent benchmark for comparison.
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