Property Overview: 428 Larsen Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home in Chalmers presents a straightforward opportunity centered on its lot and living space. Built in 1913, it is an older home with an unrenovated basement and a detached garage. Its primary appeal lies in its above-average living area (1,116 sq ft) for both its street and neighbourhood, offering more interior space than many comparable local properties. The lot size (3,298 sq ft) is typical for the area, providing standard outdoor space for a mature community.
The property suits practical buyers looking for a value-oriented entry into the market, or investors considering land value. It’s a home that asks for modernization, making it a potential project for a hands-on buyer. A less obvious perspective is its consistent, middle-of-the-road assessed value within Chalmers, suggesting it’s a stable, no-surprises option in the area rather than a standout bargain or premium property. Its recent sale history shows gradual appreciation, indicating steady local demand.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor with sloped ceilings where the roof line begins, making the upstairs rooms slightly smaller.
2. Is the basement finished or usable for storage?
The listing specifies the basement exists but is "not renovated." It is likely a functional, unfinished space for utilities and storage, not a finished living area.
3. How does the assessed value relate to the likely sale price?
The assessed value for taxation ($19.3k) is significantly lower than the last sale price ($22.5k in 2023). Sale price is determined by the market, while assessed value is for municipal tax purposes; the latter is not a direct indicator of current market value.
4. The home is older—what should I consider?
Built in 1913, potential buyers should budget for updates to major systems like wiring, plumbing, and insulation. A thorough home inspection is essential to understand the condition and needed repairs.
5. How does this property compare to others on the street?
The data shows this home offers more living space than the average on Larsen Avenue, while its lot size and age are fairly typical for the street. It sits in the middle of the pack for assessed value among its immediate neighbours.