Property Overview
This 1913 one-storey home on Harbison Avenue W in Chalmers presents a straightforward, value-oriented opportunity. Its key appeal lies in its renovated basement and detached garage, sitting on a modest 2,314 sqft lot. With 800 sqft of living space and a notably low assessed value, it stands well below city-wide averages for both size and price. The home is older than most in Winnipeg but is typical for its immediate street and neighbourhood. Its last sale was in late 2017 for $11,300.
This property would suit a first-time buyer or investor seeking an entry point into the market with a foundational property. It’s also a potential fit for someone looking for a low-maintenance base with renovation potential, where the already-updated basement provides a immediate advantage. The low taxes associated with its assessment could be a specific draw for budget-conscious owners.
Frequently Asked Questions
1. What does "renovated basement" likely mean here?
Given the home's age and value context, this typically indicates functional updates like finished walls, flooring, and lighting to create livable space, rather than a high-end renovation. It adds valuable usable square footage.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's smaller size, older age, and the market values within its specific local area. It indicates this is a more affordable segment of the market, which is reflected in lower property taxes.
3. Is the small lot size a major drawback?
Not necessarily. While below average in size, the lot is consistent with others on the street. It means less exterior maintenance, which can be a positive for some buyers, though it offers limited space for expansion or large-scale landscaping.
4. Who might the "comparable" nearby properties be?
The listed comparables, like those on Scotswood Drive, are likely similar in assessed value but may be condominiums or townhouses. This highlights that this property offers a detached home and garage at a price point often associated with shared-wall properties.
5. What’s a less obvious consideration with a home from 1913?
While the basement has been renovated, the core structure and major systems (like plumbing and electrical) may still be original or aged. A pre-purchase inspection is crucial to understand the condition and potential future investments needed beyond surface updates.