Property Summary: 338 Larsen Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-and-a-half storey home built in 1944 on a standard city lot in the Chalmers neighbourhood. Its key appeal lies in its position as an affordable entry point into the Winnipeg market, with an assessed value significantly below the citywide average. The home features a detached garage and a notably modest living space of 744 square feet, which is below average for the area.
The property would best suit a first-time buyer, an investor, or someone looking for a downsized, low-maintenance footprint. Its older vintage offers character and potential for renovation, while the lot size is consistent with the street, providing typical outdoor space for the neighbourhood. A thoughtful perspective is that while the living area is small, the home ranks relatively well for its year built on the street, suggesting it may be among the more updated post-war homes in the immediate vicinity. The low sale price from 2020 indicates a potential value opportunity for a buyer willing to invest in updates.
Frequently Asked Questions
1. Is the home move-in ready?
Given its age (1944) and notably low past sale price, buyers should budget for inspections and potential updates. Its condition relative to its assessed value is a key point to investigate.
2. How does the lot size compare?
The land area is approximately 3,300 sq ft, which is very typical for both Larsen Avenue and the broader Chalmers neighbourhood, but below the citywide average.
3. What does the "below average" living area mean practically?
At 744 sq ft, the living space is smaller than most homes in Winnipeg. This indicates a cozy, efficient layout best for individuals, couples, or those comfortable with compact living.
4. Why is the assessed value so much lower than the city average?
The assessed value of $190k reflects the home's smaller size, age, and neighbourhood pricing. It ranks around average for its immediate area but falls in the bottom 7% citywide, highlighting Winnipeg's wide range of property values.
5. What is the context of the 2020 sale price?
The home sold for $16,900 in June 2020. This very low price likely indicates it was sold as a tear-down, for land value, or in significant need of repair, and is not representative of current market values for habitable homes.