Property Overview
This one-and-a-half storey home at 315 Larsen Avenue in Winnipeg's Chalmers neighbourhood presents a straightforward opportunity. Built in 1914, its key characteristics include a renovated basement, a detached garage, and a modest 794 sqft of living space on a standard 3,298 sqft lot. The home last sold in July 2022.
Its appeal lies in its relative affordability and its position as a functional, no-frills property in an established area. The renovated basement adds usable space, a valuable upgrade in a home of this era. The lot size is typical for the street, offering a manageable yard without extensive upkeep.
This property would suit a first-time buyer seeking an entry point into the market, an investor looking for a rental property with a stable assessment history, or a downsizer wanting a compact, low-maintenance home. It’s a practical choice for those comfortable with the character and potential maintenance considerations of a 110-year-old structure, who prioritize location and value over modern square footage.
Frequently Asked Questions
1. How does this home compare to others on the street?
The data shows this home is very typical for Larsen Avenue. Its lot size, year built, and assessed value all rank close to the average for the street, meaning it fits right into the existing fabric of the neighbourhood without standing out as unusually large, small, new, or old.
2. What does the "renovated basement" likely entail?
While specifics aren't listed, in a 1914 home, a renovated basement often means it has been modernized for use as living or utility space—possibly with updated flooring, walls, and lighting. It's wise to inquire about the scope of the renovation, any moisture-proofing measures taken, and whether it includes a proper egress window for safety.
3. Is the assessed value a good indicator of the sale price?
The assessed value for municipal taxes ($19,600) is notably low and should not be confused with market value. The home last sold for $19,100 in 2022. Market value is determined by current conditions, buyer demand, and the home's specific state, so recent sales of similar homes in Chalmers are a more reliable guide.
4. What are the less obvious considerations for a home built in 1914?
Beyond the charm, consider the state of major aging components not always highlighted in listings: the roof, original windows, plumbing, and electrical systems. The detached garage is also likely original; assess its condition and potential utility. The modest living area (794 sqft) requires efficient use of space.
5. How does the property rank city-wide, and why does that matter?
City-wide rankings show this home is below average in size, value, and age compared to the entire Winnipeg market. This isn't necessarily negative; it clearly indicates this is a smaller, older, and more affordable home. It highlights that its appeal is hyper-local, offering value within its specific neighbourhood context rather than competing with newer suburban developments.