Property Overview & Appeal
This one-and-a-half storey home, built in 1913, presents a straightforward opportunity in Winnipeg's Chalmers neighbourhood. Its key characteristic is its modest scale, featuring 1,050 sqft of living space—which is notably above average for its immediate street—situated on a 2,315 sqft lot. The home has an unrenovated basement and no garage. The appeal lies primarily in its value proposition, as both its recent sale price and assessed value are significantly below averages for the street, neighbourhood, and city. This creates a low entry point.
It would suit a practical buyer looking for a starter home or a land-value play in an established area. It’s a candidate for someone comfortable with a project, as the basement condition suggests updates may be needed. The data also indicates it could attract an investor seeking a rental property with a minimal initial investment, given the low acquisition cost relative to the area.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's specific attributes, including its age, size, condition, and recent sale price. This home's very low value reflects its modest scale and likely the unrenovated state, placing it in a different market segment than the typical Winnipeg home.
2. What does "above average" living area for the street mean?
While the home is 1,050 sqft, the average living area for comparable homes on Harbison Avenue W is only 908 sqft. This means the house offers more interior space than many of its direct neighbours, which is a relative strength in an otherwise compact setting.
3. Is the small lot size a disadvantage?
The lot is below average in size for the city, but it is quite typical for the older, central Chalmers neighbourhood. It may mean less yard maintenance, but also limits expansion possibilities. It's a standard lot for the area's character.
4. The home sold for the same amount as its assessed value. What does that indicate?
This typically suggests the sale was seen as a fair market transaction based on the property's condition and utility at that time. It reinforces that the price reflects a value-based purchase rather than a speculative one.
5. Are the nearby reference properties similar?
The listed references, like 396 Bowman Ave and 374 Martin Ave W, are generally similar in age and living area but have higher assessed values. This further highlights 353 Harbison's position as a lower-cost option within the same neighbourhood, likely due to specific condition or features.