Property Overview & Key Characteristics
This one-and-a-half storey home at 390 Larsen Avenue in Winnipeg's Chalmers neighbourhood presents a practical, value-oriented opportunity. Built in 1951, it is notably newer than many homes on its street and in the immediate area. Its key features include a renovated basement and a detached garage. The living space (1,041 sq ft) is comfortably above average for similar homes on Larsen Avenue, while the lot size (3,298 sq ft) is typical for the local area.
The appeal lies in its position as a well-situated, no-frills property. It suits first-time buyers seeking an entry point into the market, investors looking for a rental property with a solid baseline, or downsizers wanting a manageable home without major renovation needs. A thoughtful perspective is that its "above average" rankings for year built and assessed value within its immediate peer group suggest a property that has been maintained relative to its neighbours, potentially offering a sense of stability and lower relative risk for the area.
Frequently Asked Questions
1. What does the assessed value tell me about the property?
The assessed value of $23,800 is above average for both the street and the Chalmers neighbourhood, indicating the city assesses it as having higher value than many comparable nearby homes. It is important to note this is for tax purposes and is distinct from market value.
2. How does the lot size compare?
At 3,298 sq ft, the lot is very typical for Larsen Avenue and the Chalmers area, but is below the much larger city-wide average. This suggests a standard, manageable yard for the neighbourhood.
3. The home was built in 1951. Is that old for the area?
Actually, no. With a construction date of 1951, this home is newer than the average home on Larsen Avenue (avg. ~1930) and in Chalmers (avg. ~1934). This can be an advantage regarding the potential age of some major components.
4. What type of buyer would this home suit best?
This property is a strong match for pragmatic buyers prioritizing location and value over size or modern luxury. It’s well-suited for first-time homeowners, investors, or those looking to downsize into a straightforward, maintained home in an established area.
5. Are there any obvious red flags from the data?
The data shows no major red flags and instead indicates a property that aligns with or exceeds its immediate surroundings in key metrics. The sale in April 2019 for $20,600, close to its current assessed value, suggests a stable value history in its market segment.