Property Overview: 354 Harbison Avenue W
Section 1: Key Characteristics & Appeal
This one-storey home on Harbison Avenue W is a compact, century-old property (built 1912) with a distinct profile. Its key characteristics include a modest 679 sqft of living space, a full but unrenovated basement, and a detached garage on a 2,264 sqft lot. The home’s assessed value is notably low compared to city-wide averages.
The primary appeal lies in its position as an accessible entry point into the Winnipeg market, ideal for a specific set of buyers. It would suit a hands-on investor looking for a rental property with a low entry cost, or a very budget-conscious first-time buyer willing to live modestly and renovate over time. The detached garage adds practical value for storage or a workshop.
A less obvious perspective is the lot itself. While the living space is small, the lot size is also below average for the local area. This suggests the property's future value may be less about expansive outdoor space and more about the potential of the existing footprint—making a thoughtful addition or a efficient redesign a key consideration for the right buyer.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
Given its age, size, and condition (the basement is noted as unrenovated), some buyers may consider this. However, its low assessed value and functional structure mean it could also be maintained as a modest rental or starter home. A professional inspection is crucial to determine viability.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's specific characteristics: very small living area, older age, and likely basic condition compared to the broader Winnipeg market, which includes many larger, newer, and more updated homes.
3. What does "below average" for the lot size mean in practice?
The lot is smaller than most in the Chalmers neighbourhood. This means smaller outdoor areas but potentially lower maintenance. It’s important to verify yard space and ensure it meets your needs for privacy, recreation, or future plans.
4. How does the 2020 sale price relate to today’s value?
The 2020 sale of $11.70k provides historical context, but market conditions have likely changed. It primarily confirms the property’s long-standing position as a lower-value asset. Current market valuation is necessary.
5. Are the nearby "similar assessed value" properties actually comparable?
Not necessarily. The list includes homes in different neighbourhoods (like Ridgewood South) that share only an identical assessed value. For true comparables, focus on the "Worth viewing" and "For reference" properties in Chalmers, which share similar age, size, and location.