Property Overview: 389 Harbison Avenue W, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1916, situated on a standard-sized lot in the Chalmers neighbourhood. Its key characteristic is its modest scale, with a living area of 700 sqft, which is notably smaller than most homes on its street and in the wider city. The property features an unrenovated basement and does not include a garage or pool.
The primary appeal lies in its affordability and land value. With a very low assessed value, it represents a highly accessible entry point into the Winnipeg market. The lot size, while average for the immediate area, is larger than most city-wide properties, offering potential for expansion or outdoor space relative to the home's footprint. This property would best suit a budget-conscious first-time buyer, an investor looking for a straightforward rental property, or a buyer viewing it as a land-value play with the existing structure providing immediate utility. Its smaller size also means lower heating and maintenance costs, a practical consideration often overlooked.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's modest size, age, and lack of recent renovations compared to the broader Winnipeg market, where larger, more updated homes are common.
2. What does "unrenovated basement" typically imply?
It generally means the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates and consider it a space for utilities and storage rather than finished living area.
3. Is the small living area a concern?
It depends on your needs. For a single person, couple, or as an investment, it can be efficient. However, it is significantly smaller than the average local home, so families or those needing more space may find it limiting without a planned addition.
4. How does the lot size compare?
At 2,316 sqft, the lot is around average for Harbison Avenue and Chalmers, but below the Winnipeg average. This suggests the neighbourhood character consists of homes on similarly sized parcels.
5. The home last sold for $12,500 in 2020. What does that indicate?
That sale price, well below the current assessed value, is a notable historical data point. It suggests the property may have been in very different condition or sold under unique circumstances at that time, and current value should be based on a present-day appraisal and market conditions.