Property Overview: 401 Nairn Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home, built in 1942, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its key appeal lies in its balance of a renovated basement and a manageable, average-sized lot (3,560 sqft) for the area. With 982 sqft of living space, the house is compact, suggesting lower utility costs and less maintenance. The recent sale price of $25,500 and a lower assessed value indicate it sits in an affordable segment of the market.

The property suits first-time buyers, investors, or downsizers seeking an entry point into homeownership with immediate livability thanks to the basement renovation. Its lot size is notably larger than the citywide average for comparable homes, offering relative outdoor space potential in an urban setting. A thoughtful perspective for buyers is the home's age: while older than most on its street, it has likely seen many updates over its 84 years, and the pre-war construction era often comes with solid, simple bones. The lack of a garage is a trade-off for the price point, but the neighbourhood context shows this is common.

Section 2: Frequently Asked Questions

1. What does the "renovated basement" likely include?
While specifics would require a viewing or disclosure, a renovated basement in a home of this vintage and price range typically means it has been finished into a usable living space, such as a rec room or additional bedroom, and includes basic updates like flooring, drywall, and lighting.

2. How does the lot size compare practically?
At 3,560 sqft, the lot is slightly smaller than the average for Nairn Avenue but larger than the typical Chalmers and citywide average for similar homes. This means you likely have a decent backyard for the area, but not an exceptionally large one.

3. Why is the sale price higher than the assessed value?
This is common and reflects current market conditions. The assessed value is for taxation purposes and can lag behind market demand. The sale price represents what a buyer was recently willing to pay.

4. What are the implications of no garage?
You'll need to budget for street parking and consider winter vehicle maintenance. However, the lower purchase price reflects this, and many neighbouring properties are in the same situation, which is typical for the neighbourhood's character and age.

5. Is the home smaller than others nearby?
At 982 sqft, the living area is very close to the average for both the street and Chalmers. It's efficiently sized. For context, citywide averages are skewed by newer, larger suburban homes, so comparing locally is more relevant.