Property Overview: 485 Harbison Avenue W
Key Characteristics & Appeal
This 2018-built bi-level home at 485 Harbison Avenue W offers a modern living experience in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its contemporary construction, which stands out markedly in an area dominated by much older homes. With 934 sqft of living space and a renovated basement, the home provides efficient, move-in-ready layout for its size.
The property’s strongest asset is its assessed value of $310k, which ranks in the top 3% on its street and top 6% in Chalmers, signaling a perception of above-average worth for the area. This creates an interesting dynamic: you are acquiring a newer, low-maintenance home, but its value is already positioned at a premium within the immediate community. The lot is compact at 2,317 sqft, which translates to less yard upkeep—a plus for those seeking a lock-and-leave lifestyle or first-time buyers wanting to minimize weekend chores.
This home would suit buyers looking for modern systems and finishes without venturing into newer suburban subdivisions. It’s ideal for small families, couples, or investors seeking a relatively new property with strong assessed value in an established neighbourhood. The renovated basement adds functional space, making it a practical choice for those who need a home office, guest space, or recreational room without undertaking major projects.
Frequently Asked Questions
1. How does the home’s modern build date affect insurance and maintenance?
Being built in 2018, the home likely benefits from newer roofing, plumbing, and electrical systems, which can lead to lower maintenance costs and potentially more favourable home insurance premiums compared to the century-old homes common in the area.
2. The lot size is noted as below average for the city. What does this mean practically?
The 2,317 sqft lot means a smaller backyard. This is a advantage for those who prefer minimal landscaping and yard work, but a consideration for buyers dreaming of large gardens, extensive outdoor entertaining spaces, or future additions like a large deck or garage.
3. The assessed value is high for the street. Is this a positive?
It indicates the municipal assessment sees significant value in the property, often reflecting its newer condition and improvements. This can be a positive for equity and resale, but buyers should ensure the listing price is in line with both this assessment and recent sale prices of similar-age homes in wider East Winnipeg.
4. What is the significance of the “renovated basement” in a bi-level?
In a bi-level, the basement is typically above-grade and features full-sized windows. A renovated basement here effectively adds significant finished living space to the 934 sqft main floor, greatly enhancing the home’s usable square footage and functionality.
5. The home sold for $237k in 2018. How should I interpret that today?
That was the original purchase price when the home was new. The current assessed value of $310k reflects the market’s valuation after several years, influenced by market trends, the completed basement renovation, and the established premium for a modern home in the area. It is not a direct indicator of the current listing or sale price.