Property Overview: 220 Harbison Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1914, presents a straightforward opportunity in Winnipeg's Chalmers neighbourhood. Its key characteristics include a modest 802 sqft of living space, a 2,723 sqft lot, and a detached garage. The basement exists but is noted as not renovated. The home's assessed value is significantly below the citywide average.
The primary appeal lies in its position as an affordable entry point into the housing market. The lot size is notably larger than many city properties, offering valuable outdoor space relative to the home's footprint. It suits practical, value-conscious buyers such as first-time homeowners comfortable with a project, investors looking for a rental property with land value, or downsizers seeking a manageable, low-maintenance footprint without a condo fee. A less obvious perspective is that a home of this age and modest assessment in a stable area may offer a degree of insulation from broader market volatility, focusing its value on the utility of the land and structure rather than premium finishes.
Section 2: Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
For a home built in 1914, this usually indicates a traditional cellar-style basement with foundational stone or concrete walls. It likely has low ceilings, basic utility functions, and unfinished space, representing potential for future development but requiring significant investment.
2. How should I interpret the assessed value being much lower than the recent sale price?
The City's assessed value for tax purposes often lags behind market values, especially after a recent sale. The 2020 sale price of $150k is a more current market indicator. The low assessment, however, suggests relatively lower property taxes compared to many other city homes.
3. Is the smaller living area a concern?
At 802 sqft, the living space is compact. This emphasizes efficient use of space and likely lower heating costs. It may be ideal for one or two people but could feel cramped for a growing family, making the larger lot a valuable compensatory feature.
4. What are the implications of the home's age?
Built in 1914, the home will require diligent inspection for aging components like wiring, plumbing, and the foundation. However, homes of this era in Winnipeg often feature solid timber construction and simpler layouts that are easier to renovate than more complex modern designs.
5. How does this property compare to others nearby?
The data shows this home is very typical for its immediate street and the Chalmers area in terms of age, size, and value. It is not an outlier, suggesting it fits comfortably within the neighbourhood's existing character and price range, which can be a positive for long-term stability.