Property Overview
This one-storey home at 212 Harbison Avenue W in Winnipeg's Chalmers neighbourhood presents a straightforward opportunity. Built in 1913, it sits on a 2,724 sqft lot and features 844 sqft of living space, an unrenovated basement, and a detached garage. Its most recent sale was in March 2020 for $140,000, and it carries a current assessed value of $15,400.
Key Characteristics & Appeal
This property’s appeal is rooted in its position as a modest, entry-level home with clear potential. Its lot size is near the average for its immediate street, offering a decent outdoor space for the area. The home itself is smaller than the city average, which translates to lower utility costs and less maintenance. Its very low assessed value and historically lower sale price point to a property that is financially accessible.
It would suit a first-time buyer comfortable with a home that may require updates over time, or an investor looking for a rental property with a manageable entry cost. A thoughtful perspective is that its "below average" metrics across the city aren't necessarily drawbacks here; they accurately reflect its role as an affordable, no-frills option in the market. The value lies in the structure and land as a foundation, not in finished luxury.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean?
It generally indicates the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates and include a thorough inspection for moisture and foundation integrity.
2. Why is there such a large gap between the 2020 sale price ($140k) and the current assessed value ($15.4k)?
Assessed value for tax purposes is often significantly lower than market value and should not be used as a direct indicator of sale price. Market value is determined by recent sales of comparable properties.
3. Is the smaller living area a concern?
At 844 sqft, the home is compact. This suits minimalist living or small households but requires smart space planning. The unrenovated basement and lot offer opportunities to expand living or storage space in the future.
4. What are the implications of the home's age (1913)?
While character is a plus, essential systems like wiring, plumbing, and insulation may need evaluation or upgrading. This is common for homes of this era and should be factored into renovation plans.
5. How does the detached garage affect the property?
A detached garage provides valuable storage or workshop space but may require separate maintenance. Its location on the lot also influences backyard layout and potential future development plans.