Property Overview
This one-storey home at 281 Harbison Avenue W in Winnipeg's Chalmers neighbourhood is a straightforward property with a clear value proposition. Built in 1909, it sits on a 3,054 sqft lot. The home itself is compact, with 600 sqft of living space and an unrenovated basement. There is no garage or pool. Its last recorded sale was in 2016 for $80,000, and it carries a low assessed value.
Key Characteristics & Appeal
The primary appeal of this property lies in its land and its price point. The lot size is above average for its immediate street and neighbourhood, offering potential for expansion, gardening, or outdoor space that is uncommon for homes in this value range. The home itself is one of the smallest and oldest in its comparison groups, indicating it is likely a candidate for a significant renovation, a rebuild, or as a long-term hold for its land value.
It would best suit a specific type of buyer: an investor or handy homeowner looking for an affordable entry into the market who is prepared for a project. Its low assessed value suggests correspondingly low property taxes, which is a key consideration for someone planning to hold or redevelop the property over time. It is not suited for someone seeking a move-in-ready home.
Frequently Asked Questions
1. What does "below average" for Year Built and Living Area really mean for a buyer?
It confirms this is a very old, small house. The focus shifts from the existing structure's condition to the value of the land and the cost of bringing the home up to modern standards or replacing it, subject to local zoning.
2. The assessed value is very low ($13.5k). Will my property taxes be based on that?
No. Property taxes are based on the market value assessment, not this "value component" figure. The low figure here is a metric for comparison, but the overall market value assessment would be higher, closer to its last sale price.
3. Is the large lot a major advantage?
Potentially. For the neighbourhood and street, the lot is a strong point. It provides flexibility that smaller lots do not, but the feasibility of additions or new construction depends entirely on Winnipeg zoning bylaws and the cost of utilities/service connections.
4. Who would the nearby "similar assessed value" properties be relevant for?
They are useful for an investor or assessor comparing very low-value property components across the city. For a typical buyer, the "nearby properties" and "for reference" sold homes on the same street are more practical for understanding the local market.
5. The home sold for $80k in 2016. Is that a useful guide for its value today?
It provides a historical benchmark, but market conditions have changed significantly since 2016. It firmly establishes the property's position in the affordable segment, but a current appraisal or comparative market analysis is essential to determine its present value.