Property Overview: 430 Washington Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1950, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in the balance of a generous, above-average lot size (over 5,100 sq ft) paired with a modest, efficiently sized living area of 894 sq ft. The property features a renovated basement and a detached garage.

The home’s standout characteristic is its land. The lot ranks in the top 9% for size within both its immediate street and the broader Chalmers area, offering significant outdoor space or future expansion potential rare for the locale. While the house itself is compact and older than the city average, it has been maintained to a standard that places its assessed value above neighbourhood norms. This creates a distinct value proposition: you are investing significantly in the land itself, with a liveable, updated structure included.

This property would suit a pragmatic buyer—perhaps a first-time homeowner, an investor, or someone looking to downsize—who prioritizes land value and future potential over immediate square footage. It’s for someone who sees the value in a large yard, appreciates a home with a recently renovated basement ready for use, and is comfortable with a cosy, character-filled floor plan. The very low sale history and assessed value also suggest it could be a viable candidate for a land lease or other creative arrangements, appealing to a niche but financially savvy buyer.

Frequently Asked Questions

1. Is the lot size typical for the area?
No, it is a key advantage. At 5,104 sq ft, the lot is significantly larger than the average for both Washington Avenue and the Chalmers neighbourhood, ranking in the top 9%.

2. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but the specific scope, quality, and whether it includes a legal suite or additional bedrooms should be verified with the seller or a viewing.

3. How does the home's age affect its condition and value?
Built in 1950, it is newer than many homes on its street and in Chalmers. However, its systems, roof, and envelope should be inspected, as its above-average assessment for the area suggests it has been maintained adequately.

4. Why is there such a large gap between the lot size and living area?
This is the defining feature of this property. The large lot offers potential for additions, a garden, or outdoor living space that the modest house does not provide internally. It represents land value holding most of the property's worth.

5. The last sale price seems very low. What does that indicate?
The 2019 sale price of $19,300 is far below typical Winnipeg home prices and even the current assessed value. This often indicates a non-arms-length transaction (e.g., between family members) or a sale with specific conditions. It should not be used as a direct market comparison for a standard sale today.