Property Overview & Key Characteristics
This 1919-built, one-and-a-half storey home on Larsen Avenue in Chalmers presents a straightforward opportunity. Its key appeal lies in its position as a modest, no-frills property in a long-established neighbourhood. With 970 square feet of living space, a detached garage, and an unrenovated basement, it is a functional blank canvas. The lot size is typical for the street and area, offering standard outdoor space.
The home’s standout characteristic is its value proposition. Its assessed value is significantly below the Winnipeg citywide average, reflecting its age and condition. This makes it a candidate for buyers seeking an entry point into the market, an investor looking for a rental property, or a hands-on owner prepared to take on gradual updates. Its appeal is practical rather than luxurious, suited for those who prioritize land and location over move-in-ready finishes. A less obvious perspective is its potential as a "hold" property in a neighbourhood that may see incremental change over time, where the value is currently in the land and structure rather than high-end finishes.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean for a house of this age?
It generally indicates the original foundation, flooring, and utilities, likely with limited finishing. Buyers should budget for potential updates to plumbing, electrical, or insulation, and plan for a professional inspection to assess its condition and potential.
2. How does the very low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes compared to newer or more extensively renovated homes in the city. This can be a significant ongoing cost savings for the owner.
3. Is the detached garage in usable condition?
The listing does not specify. Given the home's age and overall description, a prospective buyer should verify the garage's structural state, door operation, and whether it has electrical service.
4. What is the neighbourhood character of this part of Chalmers?
The provided data shows homes on Larsen Avenue are of similar vintage, size, and value, indicating a consistent, mature streetscape. It suggests a stable, established community rather than an area undergoing rapid redevelopment.
5. Why is the sale price from 2019 lower than the current assessed value?
The 2019 sale price of $16,800 was likely a market transaction that set a baseline. The current assessed value of $19,800 is an estimate for taxation purposes by the municipal authority and can differ from market value, which is determined by what a buyer is willing to pay today.