Property Overview: 519 Larsen Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, century-old (1914) one-storey home in the Chalmers neighbourhood. Its primary characteristic is its modest scale, featuring 680 sq ft of living space on a 2,495 sq ft lot, both of which are below average for the immediate area and the city. There is no basement, pool, or garage. The home’s appeal lies squarely in its value and potential. With a very low assessed value and a recent sale price of $11,600, it represents one of the most accessible entry points into homeownership in Winnipeg. This isn’t a move-in-ready property for most; its value is as a blank canvas. It would suit a hands-on buyer looking for a project—perhaps a first-time buyer with renovation skills, an investor considering a hold or redevelopment, or someone seeking the absolute minimum footprint and tax burden. A less obvious perspective is that its smaller lot and home size could mean lower utility costs and less maintenance, appealing to those looking to minimize ongoing expenses. Its age and condition suggest it requires a vision and a willingness to invest sweat equity or capital into improvements.
Section 2: Frequently Asked Questions
1. Is this a livable home in its current state?
Based on the very low sale price and assessed value relative to its size and age, it is likely a fixer-upper. Prospective buyers should budget for significant updates or repairs and plan for a thorough inspection.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property’s relatively small size, older age, and likely current condition compared to the typical Winnipeg home. It is in line with other smaller, older homes in the Chalmers area.
3. What are the implications of having no basement?
This limits storage space and eliminates the potential for a traditional basement suite or developed recreational area. It may also mean mechanical systems like the furnace and water heater are located on the main floor, impacting living space layout.
4. Can the house be expanded or the lot redeveloped?
The lot size is below average for the area, which may limit possibilities for a large addition. Any expansion or redevelopment would need to comply with local zoning bylaws regarding setbacks and lot coverage. The potential may lie in a thoughtful renovation of the existing footprint.
5. How does the lack of a garage affect parking and storage?
Buyers will need to rely on street parking. The absence of a garage also means all storage and vehicle protection must be addressed creatively, which is a key consideration given the home’s already limited living area.