Property Overview: 185 Harbison Avenue W, Winnipeg
Key Characteristics & Appeal
This is a classic one-storey home built in 1925, situated on a standard 2,754 sqft lot in the Chalmers neighbourhood. Its primary appeal lies in its position as a straightforward, no-frills property with a detached garage. The 840 sqft living space is modest and typical for the immediate area. The home features a basement, noted as unrenovated, and has no pool.
The data reveals a property that is consistently "around average" within its own street and neighbourhood context for land size, age, living area, and assessed value. This indicates a home that fits comfortably within its local market, without extreme outliers. Its most recent sale price in late 2023 ranked well above average for the street, suggesting perceived value or demand specific to this location.
This property would suit a pragmatic buyer looking for an entry point into homeownership, an investor seeking a land-value proposition with a rental structure in place, or someone interested in a live-and-renovate project starting with the basement. It’s less suited for those seeking a turn-key home or above-average interior space.
Frequently Asked Questions
1. What does "around average for the street/neighbourhood" actually mean for a buyer?
It means the home isn't an outlier. You're not overpaying for a premium lot size, nor are you getting a substandard property for the area. It represents a stable, predictable purchase within the community's norms, which can simplify financing and future resale.
2. The assessed value is significantly lower than the last sale price. Why?
Municipal assessed value for taxation purposes often lags behind market value and is calculated using mass appraisal techniques. The sale price reflects what a specific buyer was willing to pay in the open market at that time, which can be influenced by factors like condition, timing, and buyer competition not fully captured in the assessment.
3. The home has an unrenovated basement. What are the implications?
This presents both opportunity and due diligence. It allows a new owner to customize the space to their needs but requires a thorough inspection for moisture, foundation integrity, and necessary upgrades (like electrical or insulation) to make it livable. Budgeting for these potential costs is essential.
4. How significant is the detached garage?
In a practical sense, it provides secure storage or workshop space separate from the house. From a value perspective, it's a standard feature for the area but remains a positive asset, especially compared to properties with only a carport or no dedicated parking structure.
5. The home sold recently in late 2023. What does that suggest?
The relatively quick resale history suggests the property is likely in functional, habitable condition and holds steady market interest. It’s worthwhile to investigate (through a realtor) the context of that sale to understand if it was an arms-length transaction and if any notable changes were made during that brief period of ownership.