Property Overview: 375 Larsen Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home in Chalmers presents a practical opportunity in Winnipeg's market. Its key characteristic is balance: with 936 sqft of living space on a 3,298 sqft lot, it sits around the average for its immediate street and neighborhood in most metrics. The home, built in 1913, comes with a renovated basement and a detached garage. Its appeal lies in being an honest, no-frills property in a context where its recent sale price of $170k is significantly below the city-wide average. This isn't a luxury offering, but a grounded entry point.
The property would suit first-time buyers or practical investors looking for a functional home without a premium price tag. Its value is relative; while its lot size and living area are below the Winnipeg average, they are typical for Chalmers. This suggests a chance to own in an established neighborhood without the cost of a larger, modern footprint. A thoughtful perspective is that a home of this age and modest size on a standard lot offers manageable upkeep costs and renovation potential, appealing to those who prefer a simpler living space without excessive maintenance.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the 1913 build year affect the home?
While older than many city homes, its build year is around average for Chalmers. This typically means potential for character but also a need for a thorough inspection to understand the condition of major systems like wiring, plumbing, and the foundation.
3. The assessed value is much lower than the sale price. Why?
The assessed value for taxation purposes ($18.9k) is not a market valuation. The recent $170k sale price reflects the current market value, which is influenced by factors like the renovated basement, condition, and local demand.
4. What is the neighborhood like?
Chalmers is an established, mature neighborhood. The property's metrics (lot size, living area) are consistently around the local average, indicating it fits squarely within the fabric of a classic Winnipeg community, not an outlier.
5. Are the property taxes likely to change?
Following a sale at $170k, the property assessment may be reviewed by the municipal assessor, which could lead to an increase in the assessed value and subsequent property taxes. Budgeting for a potential increase is advisable.