464 Harbison Avenue W

Property Overview: 464 Harbison Avenue W

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1914, presents a straightforward opportunity in Winnipeg's Chalmers neighbourhood. Its key characteristic is its modest scale, featuring 890 sqft of living space on a 2,266 sqft lot. The home has a basement, but it is not renovated, and there is no garage or pool.

The primary appeal lies in its position as an affordable entry point. With a recently low sale price and an assessed value significantly below city averages, it stands out for its low financial barrier. This isn't a move-in-ready showcase; its value is rooted in potential and land. It suits a specific type of buyer: the hands-on renovator looking for a structural canvas, an investor seeking a low-cost rental property with basic shelter, or someone prioritizing ultra-low property taxes over modern finishes. A less obvious perspective is its appeal for those interested in "right-sizing" or minimalist living without a large mortgage, accepting the trade-off of dated conditions and smaller room sizes typical of its era.

Section 2: Frequently Asked Questions

1. What does "below average" for land area mean in this context?
While the lot is smaller than most in Winnipeg overall, it is quite typical for its specific street and the Chalmers area. You're getting a standard-sized city lot for this locality, not an unusually small parcel.

2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's modest size, age, and condition relative to the broader Winnipeg market, which includes many newer, larger homes. It indicates this is a more basic property, not a direct comparison to a modern suburban house.

3. What should I expect with an unrenovated basement?
This typically means the basement is in original or utilitarian condition, likely with concrete walls and floors, and intended for basic storage or mechanical systems. It should not be considered finished living space without significant investment.

4. The home sold for $17,500 in 2022. What does that suggest?
This very low sale price strongly indicates the property was purchased as a land value play, a tear-down, or in need of major foundational work. It is a critical data point suggesting the structure itself may have minimal market value.

5. Who are the most likely neighbours or comparable buyers?
Given the price history and assessed values of nearby homes on Harbison and Martin Avenues, the immediate area consists of similar vintage, modest homes. Likely neighbours or competing buyers would be other value-conscious investors or renovators, not those seeking turn-key properties.