526 Larsen Avenue

Property Overview: 526 Larsen Avenue, Winnipeg

Key Characteristics & Appeal

This two-storey home, built in 2020, stands out for its modern construction and generous living space in the Chalmers neighbourhood. Its primary appeal lies in its exceptional standing compared to nearby properties. With 1,768 sqft of living area, it ranks in the top 2% on its street and in Chalmers, offering significantly more room than the local average. It also boasts a renovated basement and a high assessed value of $470k, placing it in the top 1% of the area—a strong indicator of its perceived market value and quality.

The home is ideally suited for buyers seeking a modern, move-in-ready property without the typical maintenance concerns of an older home. It appeals to those who prioritize interior space and modern amenities over a large yard, as the lot size is more compact than area averages. This is a solid choice for professionals, small families, or anyone looking for a newer build in a well-established neighbourhood, offering a blend of contemporary living within a mature community context.

Frequently Asked Questions

1. How does the property’s value hold up in the broader Winnipeg market?
While it’s an elite property within its immediate area, citywide comparisons show it is above average (top 25%), suggesting it offers strong value for its size and condition compared to the full Winnipeg market.

2. What are the trade-offs for having a newer home here?
The trade-off is typically lot size. This home is on a smaller, more urban lot compared to area averages, meaning less outdoor private space but also less yard maintenance.

3. The assessed value seems high for the area. What does that mean?
The assessed value places it in the top 1% for Chalmers. This reflects its modern build year, size, and renovations, setting it apart from the many older, smaller homes in the neighbourhood. It’s valued more similarly to homes in areas like Elmhurst.

4. Is the renovation in the basement a legal suite?
The details provided state the basement is renovated but do not specify it as a legal secondary suite. A buyer should verify its status and compliance with local regulations if that is a consideration.

5. How does the recent sale history influence its current price?
The home sold in May 2022 for $540k. This recent transaction provides a concrete market benchmark, indicating strong past demand and helping to anchor its current valuation.