Property Overview: 368 Harbison Avenue W
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1910, situated on a modest 2,264 sqft lot in Winnipeg's Chalmers neighbourhood. Its key characteristics include a 692 sqft living area, an unrenovated basement, and no garage. The home last sold in February 2021.
The primary appeal lies in its affordability and value as a land-holding proposition. With an assessed value significantly below city averages, it presents a low barrier to entry. It suits specific buyer types: first-time buyers seeking a starter project, investors looking for a rental property with future redevelopment potential, or those interested in the Chalmers area who prioritize location cost over move-in-ready condition. A thoughtful perspective is that its smaller scale and lower taxes could align with minimalist or downsizing lifestyles, while its age offers the character often found in early 20th-century construction. However, its below-average rankings in size, age, and value within its immediate area indicate it is a more utilitarian property rather than a standout in its local market.
Section 2: Frequently Asked Questions
1. What does "below average" in the rankings mean for a buyer?
It means that compared to similar properties on the same street, in Chalmers, and across Winnipeg, this home scores lower in metrics like lot size, living area, and assessed value. This typically reflects its smaller scale and older age, which is directly tied to its accessible price point.
2. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should assume it is in original or utility condition, not a finished living space, and budget for any desired improvements.
3. What is the potential for this property?
The potential is likely centered on gradual updates to the existing home or, given the lot size, future redevelopment (subject to zoning). Its value is foundational, making it a candidate for sweat equity or a long-term hold in the area.
4. How does the 2021 sale price compare to the current assessed value?
The home sold for $14.3k in February 2021. Its current assessed value is $16.7k, indicating a modest increase in municipal assessment over that period.
5. Are there comparable homes nearby?
The listing references nearby properties on Harbison Ave W and similar streets like Martin and Union Avenue. These have comparable assessed values, ages, and sizes, confirming this home's positioning within the local market of smaller, older character homes.