Property Overview
This 1920-built, one-storey home at 273 Larsen Avenue in Winnipeg's Chalmers neighbourhood presents a specific and compelling value proposition. Its key appeal lies in the combination of a renovated basement and a detached garage on a lot that is notably spacious for its street and area. At approximately 3,300 sqft, the land parcel is above average for Larsen Avenue and typical for Chalmers, offering room for gardening, play, or expansion. However, the 650 sqft living area is compact, placing it well below average for the city. This creates a unique profile: a home with significant outdoor space and a modernized lower level, but with modest main-floor square footage. The most recent sale was in July 2021 for $200,000.
This property would suit a pragmatic first-time buyer, an investor looking for a rentable property with a good land-to-building ratio, or someone seeking an affordable entry into a neighbourhood with the potential to expand the living space in the future. Its charm is not in grandeur, but in its solid fundamentals—updated essentials, private outdoor space, and a garage—at an accessible price point.
Frequently Asked Questions
Q: Is the house too small?
A: At 650 sqft on the main floor, the living space is compact. The appeal hinges on the use of the renovated basement to effectively double the usable area. Buyers should view it as a bungalow with a full, finished lower level.
Q: How does the lot size compare?
A: The lot is a strong feature. At 3,299 sqft, it's larger than most on Larsen Avenue itself (top 18%) and is typical for the wider Chalmers area. This is a significant asset compared to many newer infill properties.
Q: What does the "renovated basement" include?
A: The listing confirms the basement is renovated but does not specify finishes or layout. This is a key detail to clarify with the selling agent, as it determines whether it's a liveable family space, a rental suite, or simply a modernized rec room.
Q: Why is the assessed value so much lower than the sale price?
A: The $19,500 assessed value is for municipal tax purposes only and is not a market valuation. It reflects a historical formula. The 2021 sale price of $200,000 is the relevant market indicator.
Q: Are older homes like this a concern?
A: Built in 1920, the home's major systems (roof, wiring, plumbing, foundation) should be a primary focus for inspection. The upside of an older home in this context is often proven, durable construction and a neighbourhood with established character.