Property Overview
527 Larsen Avenue is a modern, 2022-built bi-level home in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in being a nearly new construction in an area predominantly composed of much older homes, offering move-in readiness without the need for immediate updates. The home features 1,065 sqft of living space and sits on a 2,494 sqft lot.
Key Characteristics & Ideal Buyer
The standout feature of this property is its age. Built in 2022, it ranks in the top 1% of homes for its newness both on its street and in the wider Chalmers area, where the average home was built in the early 1930s. This means modern building standards, energy efficiency, and minimal maintenance concerns for the foreseeable future. The living space is above average for the immediate area, though the lot size is comparatively compact.
Its appeal is for the practical, value-conscious buyer who wants the benefits of a new home but in an established, no-frills neighbourhood. It suits first-time homeowners looking to avoid the renovation projects common with older stock, or investors seeking a modern property with likely lower upkeep costs. The recent sale price of $330k positioned it well above average for the local area, reflecting a premium for its new condition. It’s a home for someone prioritizing modern interior systems and finishes over a large yard or established neighbourhood greenery.
Frequently Asked Questions
1. Is the basement finished?
No, the basement is present but unrenovated. It offers blank-canvas storage or future expansion space.
2. How does the property tax assessment compare to the sale price?
The assessed value is significantly lower ($31.6k) than the recent sale price ($330k). This is common in Manitoba, where assessments are not intended to reflect market value. Taxes are based on the mill rate applied to the assessed value.
3. The lot seems smaller than others. Is that a concern?
The land area is below average for the city and even for the Chalmers neighbourhood. This means lower exterior maintenance but less private outdoor space. It’s a trade-off that aligns with the home's modern, low-maintenance appeal.
4. What does the "bi-level" design mean?
A bi-level typically has a ground-level entry that leads to two short flights of stairs: one up to the main living areas and bedrooms, and one down to a lower level (often containing a garage, laundry, and additional space). This design can create distinct separation between living and utility zones.
5. The home is very new for the area. What should I consider?
While the home itself is new, it’s important to evaluate the established neighbourhood on its own merits. Consider the character of the surrounding older homes, the maturity of streetscape trees, and the typical amenities of the Chalmers area to ensure it meets your lifestyle expectations.