Property Overview
This 1925 one-storey home at 239 Larsen Avenue in Winnipeg's Chalmers neighbourhood presents a specific and compelling opportunity. Its key appeal lies in the value of its land and location rather than the size of the home itself. The house sits on a 3,299 sqft lot, which is notably larger than many in the immediate area and offers space for gardening, expansion, or future development. A significant feature is the recently renovated basement, adding functional living space to the modest 637 sqft main floor. The detached garage provides additional storage or workshop potential.
This property is ideally suited for a first-time buyer, an investor, or a downsizer seeking an affordable entry into the market with a solid foundation to build upon. Its below-average assessed value and sale price reflect its compact living area, making it a practical choice for those comfortable with a smaller footprint or looking for a strategic hold. The appeal is for a buyer who sees potential in the land and the renovated basement, and who values character and location over sheer square footage. It’s a home that asks for a pragmatic vision, offering the chance to live in a established neighbourhood while investing in the asset of the property itself.
Frequently Asked Questions
1. Is the house too small?
At 637 sqft, the living area is compact, ranking below most homes in the city. However, the renovated basement significantly expands the usable space, making it functional for a single person, a couple, or someone looking to downsize without sacrificing all their belongings.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's specific characteristics: a smaller, older home on a standard-sized lot. It is priced in line with similar homes in the Chalmers area, offering affordability compared to the Winnipeg-wide average, which is skewed by newer, larger homes in different neighbourhoods.
3. What does the land size mean for me?
The 3,299 sqft lot is larger than many on Larsen Avenue and in Chalmers. This provides a generous outdoor space for its setting and could offer future potential for additions, a garden, or landscaping projects that wouldn't be possible on a smaller plot.
4. What should I know about a house built in 1925?
A home of this age has character but requires due diligence. While systems may have been updated, a thorough inspection is essential to understand the condition of the original structure, wiring, and plumbing. The renovated basement is a positive modern update.
5. Who would this property not suit?
It likely wouldn't fit a growing family needing multiple bedrooms or someone seeking a modern, open-concept layout without renovation work. It’s best for those who appreciate the practicality of a smaller home and see value in the lot and location over immediate size and modern finishes.