Property Overview: 325 Larsen Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-a-half storey home built in 1914, situated on a standard 3,298 sqft lot in the Chalmers neighbourhood. With 821 sqft of living space, it presents a compact and manageable footprint. The home includes a basement, which is noted as not renovated, and features no garage or pool.
Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, underscored by a low assessed value. The lot size is typical for the immediate street and area, offering a balanced outdoor space without excessive maintenance. This property is not a standout in terms of size or modern amenities, but rather represents a straightforward, no-frills opportunity.
This home would best suit a first-time buyer, an investor looking for a rental property, or a hands-on individual seeking a modest project. It’s for someone prioritizing location and lot over turn-key condition, who is comfortable with a home that has original character and likely requires updates. A less obvious perspective is that its very average metrics within the local context provide stability and predictability, avoiding the premium prices of more exceptional lots or the potential pitfalls of the lowest-tier properties. It’s a practical canvas.
Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement remains in its original or largely unfinished state. Buyers should budget for potential updates to make it a comfortable living or storage space and should investigate for moisture issues common in homes of this era.
2. How does the low assessed value impact property taxes?
A lower assessed value generally results in lower municipal property taxes compared to similar-sized homes with higher assessments. This can be a significant ongoing cost savings for the owner.
3. Is the lack of a garage a major drawback in this area?
Many older homes in Chalmers do not have garages. While off-street parking would be a bonus, the neighbourhood is generally adapted to street parking. Buyers should check specific parking regulations on Larsen Avenue.
4. The home sold for $19.2k in 2022. Why is that price so low?
This is well below typical city-wide sale prices because it reflects the home's condition, size, and the local market dynamics of affordable, older housing stock. It indicates a property likely purchased for its land value or as a hold-and-rent investment.
5. Given its age, what major systems might need attention?
A home from 1914 will have older infrastructure. A thorough inspection is crucial to evaluate the roof, foundation, plumbing, electrical wiring (which may not be modern), and the heating system. Planning for updates to these systems should be part of any offer strategy.