Property Overview: 140 Larche Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, 688 sqft bi-level home built in 1969, situated on a modestly sized lot in the Kildare-Redonda neighbourhood. Its key characteristic is its position as an entry-level property, with a notably low assessed value that places it well below city and area averages. The home features a renovated basement, adding functional living space.
The primary appeal lies in its affordability and potential. It represents one of the most accessible price points in Winnipeg, making it a viable entry into the housing market with a lower financial barrier. The renovated basement offers immediate utility without a starter project. This property would suit first-time buyers seeking a foothold in homeownership, investors looking for a low-cost rental property, or downsizers who prioritize minimal upkeep and cost over space. A less obvious perspective is that its below-average metrics across size and lot area translate to reduced maintenance time and costs—a practical advantage for those with busy lifestyles or fixed incomes.
Section 2: Frequently Asked Questions
1. What does the "below average" ranking for living area actually mean?
It means this home's interior size (688 sqft) is smaller than most comparable homes in its immediate area, on its street, and across Winnipeg. This is the main driver of its lower assessed value.
2. The assessed value seems very low compared to the city-wide average. Why?
The assessed value reflects the property's specific attributes: its smaller-than-average size, modest lot, and age. It is assessed based on its market segment, not the city's overall soaring averages, which are skewed by larger, newer homes.
3. Is the renovated basement a legal suite?
The provided details state the basement is "renovated" but do not specify if it's a legal, rentable suite. This is a critical point to verify with the listing agent or city permits, as it impacts rental income potential and insurance.
4. How reliable are the past sold price ranges shown?
The ranges are based on public data. For the exact historical sold price, you must request it directly via the provided email service, as this information is not fully disclosed in public records.
5. What are the trade-offs for the low price?
The trade-offs are primarily space and lot size. You are purchasing a smaller home on a smaller lot than typical for the city and neighbourhood. This may mean less room for expansion, gardening, or parking, but it also means lower property taxes and less exterior maintenance.