Property Overview: 218 Larsen Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1925, situated on a notably generous 3,300 sqft lot in the Chalmers neighbourhood. Its primary appeal lies in the combination of a renovated basement and a detached garage, offering both modernized living space and practical storage or workshop potential. The lot size is a significant asset, ranking in the top 10% for the street, which provides ample outdoor space and future possibilities that are uncommon for homes of this vintage and style.
The home itself, with 692 sqft of living area, is modest in size. This makes it most suitable for first-time buyers, downsizers, or investors seeking a manageable, entry-level property with a solid foundation. Its assessed value is very reasonable for the area, indicating a lower property tax burden. A thoughtful perspective for buyers is to see this not just as a small house, but as a valuable parcel of land with a functional dwelling. The renovated basement effectively adds usable space, making the overall footprint more practical than the main floor square footage alone suggests.
Frequently Asked Questions
1. Is the lot size a real advantage for a home this size?
Yes. The 3,300 sqft lot is significantly larger than many neighbouring properties and offers valuable flexibility. It provides generous yard space and potential for additions, gardens, or outdoor living areas that you wouldn't typically expect with a home of this era and square footage.
2. Who would this property best suit?
It's an ideal starter home due to its price point and manageable size. It would also be a practical choice for empty-nesters looking to downsize without sacrificing outdoor space, or for an investor seeking a rental property with a stable, long-term tenant base in a established neighbourhood.
3. What does "renovated basement" typically mean for a 1925 home?
While specifics should be verified, this usually indicates foundational upgrades like modern insulation, moisture control, and finished living space. It's a key feature that adds year-round functionality and can offset the smaller main floor area.
4. How does the assessed value compare to the sale price?
The home last sold in September 2022 for $17,500 and currently holds an assessed value of $19,300. This suggests the municipal assessment is in line with recent market activity, but the current market value would be determined by present conditions.
5. Are older homes like this expensive to maintain?
A home from 1925 will require attentive maintenance. However, key updates like a renovated basement are positive signs. Prospective buyers should prioritize a thorough inspection focusing on the roof, foundation, electrical, and plumbing systems to understand any upcoming investments.