Property Overview
This 1992 bi-level home at 415 Larsen Avenue in Winnipeg's Chalmers neighbourhood presents a specific and compelling value proposition. Its key appeal lies in the combination of a newer build, a generous lot, and a recently renovated basement, all at a very accessible price point. The home sits on a large 4,483 sqft lot, which is significantly above average for both the immediate street and the wider neighbourhood, offering ample outdoor space. While the 795 sqft living area is compact, the renovated basement adds functional space. The 2022 sale price of $29,100 is notably low, reflecting a unique market entry.
This property would suit practical, value-oriented buyers. It's ideal for a first-time homeowner willing to grow into the space over time, an investor looking for a land-value play with a rentable dwelling, or someone seeking a low-maintenance, newer-built home with immediate equity potential from the lot size and renovations. Its appeal is grounded in fundamentals—land, condition, and price—rather than square footage.
Frequently Asked Questions
1. Why is the recent sale price so much lower than the one from 2017?
Such a significant price discrepancy typically indicates a non-arms-length transaction, such as a transfer between family members. It does not reflect the current market value, which would be considerably higher.
2. How does the smaller living area impact livability?
The home's layout will require efficient use of space. The renovated basement is a crucial asset, effectively doubling the usable living area and making the overall package viable for a small household or a couple.
3. What does the "above average" assessed value ranking mean for taxes?
While the assessed value ranks well on its street, it remains very low city-wide. This suggests property taxes will be relatively affordable compared to the average Winnipeg home, which is a key ongoing cost benefit.
4. With no garage, what are the parking options?
The large lot provides excellent potential for adding a driveway or a future garage, subject to local bylaws. This is a notable advantage over properties on smaller lots where adding parking is impossible.
5. Is the 1992 build date a significant advantage?
Yes. In a neighbourhood and on a street where many homes are much older, a 1992 build means major systems (like wiring, plumbing, and insulation) are decades newer, potentially reducing immediate repair costs and improving energy efficiency.