Property Overview
533 Larsen Avenue is a compact, one-storey home in Winnipeg's Chalmers neighbourhood. Built in 1914, it sits on a modest lot and features a detached garage. The home has not undergone basement renovations. Its key metrics position it as a more affordable entry point within its local market.
Key Characteristics & Appeal
This property’s primary appeal lies in its accessibility and location. With a living area of 760 sq ft and an assessed value significantly below the citywide average, it represents a lower barrier to entry for homeownership. Its appeal is for the practical, budget-conscious buyer—perhaps a first-time purchaser, an investor, or someone seeking a minimal footprint. The home is smaller than most on its street and in the city, but it sits in a neighbourhood where its age and size are more typical, helping it blend into the local fabric.
A thoughtful perspective is that this home may suit someone looking for a "blank slate" or a long-term hold. The unrenovated basement presents a clear opportunity (and project) for adding value or creating additional space. While the lot is smaller than area averages, it requires less maintenance, which can be a hidden benefit. The recent sale history shows notable price appreciation between 2020 and 2022, suggesting the area has momentum, making it a potential candidate for buyers willing to trade immediate size for future growth in a well-established community.
Frequently Asked Questions
1. Is this a small house?
Yes. At 760 sq ft, the living space is below average for the street, the Chalmers neighbourhood, and Winnipeg overall. It’s a compact, efficient layout.
2. What does the assessed value tell me?
The assessed value of $15,400 is very low compared to the Winnipeg average, primarily reflecting the home's size, age, and market position. It generally indicates a lower property tax burden but is not a direct marker of market sale price.
3. How old is the home, and what does that mean?
Built in 1914, it is over a century old. While its age is around average for Chalmers, it typically means potential maintenance needs for older systems (like plumbing or wiring) should be factored into inspection and budgeting.
4. Is the basement finished?
No, the basement is noted as "not renovated." This means it is likely in a rough, unfinished state, offering storage space or the potential for future development subject to permits and codes.
5. How does the lot size impact the property?
The lot is 2,493 sq ft, which is smaller than most in the area. This limits expansive outdoor space but also reduces yard maintenance. The presence of a detached garage is a positive feature given the lot dimensions.