Property Overview
This one-and-a-half storey home on Larsen Avenue in Winnipeg's Chalmers neighbourhood presents a specific and practical opportunity. Built in 1914, it sits on a standard city lot and features a detached garage and an unrenovated basement. The home’s standout characteristic is its generous 1,312 sqft of living space, which is notably larger than most comparable homes in its immediate area. This is balanced by a very low assessed value, reflecting its age and condition. Its appeal lies in its potential as a blank canvas—it’s a substantial structure at an accessible price point, suited for a buyer comfortable with a project. This property would suit an investor looking for a rental property with solid fundamentals, a hands-on homeowner planning a gradual renovation, or someone seeking maximum interior space in Chalmers without a premium lot price.
Frequently Asked Questions
What does "above average living area" mean in this context?
While many homes in Chalmers and on Larsen Avenue average just under 1,000 sqft, this home offers over 1,300 sqft. This means you're getting significantly more interior space than most neighbouring properties, which is a key advantage if lot size is less of a priority than indoor living area.
Is the low assessed value a concern?
The low assessed value primarily reflects the home's age and the fact that it hasn't been recently renovated or updated. It indicates this is not a move-in-ready property but represents a land-and-structure value that can be advantageous for property tax calculations.
What is the significance of the unrenovated basement?
The basement presents both a project and potential. While it will require investment to finish, it also offers the opportunity to add significant functional space (like a suite, workshop, or recreation room) tailored to a new owner's needs without having to undo previous renovations.
How does the sale history inform the current value?
The home sold very recently, in August 2023. This suggests the current listing may represent a quick turnaround, possibly an investment or estate situation, and provides a very clear, up-to-date market price benchmark for buyers to consider.
Who are the most likely buyers for this property?
The most likely buyers are value-driven investors seeking a rental property with a strong floor plan, or practical, hands-on homeowners who prioritize interior square footage over a renovated state and see the benefit in customizing a home to their own taste over time.