Property Overview
This one-storey home at 365 Harbison Avenue W is a compact, century-old property built in 1912. With 664 square feet of living space and an unrenovated basement, it sits on a 2,315 sqft lot. The home’s key metrics—land size, living area, and assessed value—consistently rank below average for its street, the Chalmers neighbourhood, and Winnipeg overall. Recent sale prices have fluctuated significantly, from $8,700 in 2016 to $120,000 in 2020, and most recently to $16,500 in May 2024.
Key Characteristics & Appeal
The primary appeal of this property lies in its land and its price point. The lot, while below average for the area, still offers outdoor space in a mature neighbourhood. The extremely low recent sale price and assessed value position it as one of the most accessible entry points into homeownership in Winnipeg. It suits a very specific buyer: someone seeking a minimal financial footprint, such as an investor looking for a hold-and-land play, a buyer intending a complete rebuild, or an extremely hands-on owner willing to live simply while tackling gradual, DIY improvements. Its appeal is not in its current condition or size, but in the opportunity it represents—a chance to secure a titled property at a cost often lower than a down payment elsewhere. A less obvious perspective is that its consistently low rankings across all metrics provide a clear, unvarnished picture with no surprises; what you see is fundamentally what you get, which can be a form of security for a budget-conscious purchaser.
Frequently Asked Questions
1. Why was the 2024 sale price so much lower than the 2020 price?
This sharp decline likely reflects a market correction from a previous peak, combined with the home’s specific condition and compact size. It underscores the property's status as a value-based purchase rather than a move-in-ready home.
2. Is the basement usable?
The listing notes the basement exists but is "not renovated." Buyers should assume it requires significant work to be finished and should budget for professional inspection regarding moisture, foundation, and structural integrity common in homes of this age.
3. Who is this home really suitable for?
It best suits an investor, a builder, or a very budget-focused buyer comfortable with a project. Its size and condition make it challenging for a traditional family seeking a turn-key home, but ideal for someone whose primary goal is land ownership or a total renovation.
4. How do the below-average rankings affect property value?
While the rankings indicate the home is smaller and older than most in the area, they also contextualize its price. The value proposition is tied directly to these metrics, suggesting limited downside from a purchase perspective but also setting realistic expectations for resale appeal.
5. What should I consider about future renovations or rebuilding?
Given the home's age (1912) and size, any significant renovation would likely involve major systems updates. Investigate Chalmers neighbourhood zoning bylaws to understand what is permissible for expansions or potential redevelopment, as the land may be the most valuable asset.