Property Summary: 396 Bowman Avenue, Winnipeg

Key Characteristics & Appeal

This well-established one-and-a-half storey home in Chalmers presents a solid opportunity for value-focused buyers. Built in 1931, its key characteristic is a renovated basement, adding valuable finished space to the 1,114 sqft living area. The lot is a notable asset at 2,750 sqft, ranking in the top 30% for size within the neighbourhood, offering good outdoor potential.

Its appeal lies in its position as a mature, grounded property in a long-established area. The data suggests it's a home with a stable history, last selling in late 2020, and its assessed value ranks highly compared to much of Winnipeg. It would suit a first-time buyer looking for a character home with some updates already in place, or a pragmatic investor seeking a property with a proven track record in the area. The generous lot size might also attract those with future renovation or expansion in mind, seeing value in the land itself.

Frequently Asked Questions

1. What does a "renovated basement" typically mean for a home of this era?
It usually indicates the basement has been finished into livable space, such as a rec room or additional bedrooms. For a 1931 home, this is a significant upgrade, but it's wise to inquire about the extent, quality, and timing of the renovation, as well as any updates to foundational elements like plumbing or electrical.

2. The home has no garage. What are the parking options?
The property listing specifies no garage. Buyers should confirm on-site street parking regulations and availability. The large lot may offer potential for adding a parking pad or future garage, subject to local zoning bylaws.

3. How does the assessed value compare to the last sale price?
The home was last sold in November 2020 for $20.5k. Its current assessed value is $21.3k. This indicates stable municipal valuation in line with the recent sale, but market value can differ based on condition and current market trends.

4. The home is 95 years old. What should I prioritize during an inspection?
Given the age, a thorough inspection is essential. Key focuses should be the foundation, roof, wiring, plumbing, and insulation. The inspection should also verify that the basement renovation was done properly, with attention to moisture control and ventilation.

5. The lot is larger than many in the area. What are the advantages?
A 2,750 sqft lot in this neighbourhood offers more private outdoor space, better potential for landscaping, gardens, or play areas. It also provides a greater buffer from neighbours and could provide more flexibility for future additions, like a deck or shed, compared to properties on smaller lots.