Property Overview
This one-and-a-half storey home on Harbison Avenue W is a study in contrasts, offering a compact footprint with surprisingly efficient use of space. Built in 1915, its key appeal lies in its renovated basement and its living area, which is notably larger than many comparable homes on its street and in the Chalmers neighbourhood. The lot itself is modest, placing it in a smaller, more manageable category that requires less upkeep. With no garage and an assessed value significantly below the Winnipeg city average, this property presents as a functional, no-frills opportunity. It would suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking an affordable entry into the market with a home that offers more interior space than its exterior might suggest. Its value is practical rather than luxurious, centered on the essentials of shelter and space without the burden of a high tax assessment or extensive grounds to maintain.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the extent or quality of the finishes. A professional inspection is highly recommended to determine if it’s a cosmetic update or a full legal conversion, and to check for any moisture or foundational issues common in century-old homes.
2. How does the below-average land area impact the property?
The 2,264 sqft lot is smaller than most in the area, which means lower maintenance for yard work and potentially lower water costs. However, it also limits potential for expansions like a large addition, garage, or extensive outdoor living space. It contributes to the home's affordability.
3. The assessed value is far below the city average. Is that good or bad?
It's a double-edged sword. On one hand, it suggests relatively lower property taxes, which is a financial advantage. On the other, such a low assessment can sometimes reflect the home's age, the modest neighbourhood values, or functional limitations (like no garage), which could affect resale appreciation compared to areas with higher averages.
4. What are the implications of the home being built in 1915?
While the living space is well-sized, a 111-year-old home will likely have older infrastructure. Buyers should budget for potential updates to wiring, plumbing, and insulation. The character and solid construction of an older home are positives, but proactive maintenance is key.
5. How should I interpret the sale price from June 2023?
The $20,600 sale price from mid-2023 provides a very recent market benchmark. It indicates the home trades at a price point close to its assessed value. For a current offer, this recent sale is a crucial data point, but market conditions may have shifted slightly since then.