Property Overview: 430 Larsen Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1915 on a standard city lot in the Chalmers neighbourhood. Its key characteristic is its scale: with a living area of just under 600 square feet, it is a notably compact property, ranking in the bottom 4% for size both on its street and citywide. The lot size is typical for the area, and the home lacks a basement, garage, or pool.
The primary appeal lies in its affordability and land value. It sold recently for $11,500, a figure significantly below assessed values for comparable homes in the area and the wider city. This presents a low-barrier entry point into the Winnipeg market. It would suit a very specific type of buyer: an investor looking for a land-value play or a redevelopment opportunity, or a hands-on individual seeking an ultra-affordable project home. It is not suited for those needing move-in-ready space or conventional family living, but rather for those who see potential in the lot itself or are prepared for a substantial renovation or rebuild.
A less obvious perspective is that its consistent, low assessed value across similar properties in the area suggests this is not an outlier but part of a recognized segment of the market—homes valued primarily for their land. Its recent sale also indicates it’s a transactable property at this price point, which can be rare for such entry-level listings.
Section 2: Frequently Asked Questions
1. Is this a liveable house?
Based on the listed details (593 sq ft, no basement, built in 1915), it is likely a very basic dwelling or may require significant work. Prospective buyers should assume a thorough inspection is essential to determine livability.
2. Why is the sale price so much lower than the average Winnipeg home?
The price reflects the home's very small size, age, and likely condition. It is priced for its land value and redevelopment potential rather than as a standard family home.
3. What can I build on this lot?
The lot is a standard urban size (approx. 3,300 sq ft). Any new build or major addition would need to comply with City of Winnipeg zoning bylaws for the Chalmers neighbourhood, including rules on setbacks, height, and floor-area ratio.
4. How do the property taxes work with such a low assessed value?
The municipal assessed value is $13,900. Property taxes would be calculated based on this low assessment, which is a potential ongoing cost advantage compared to larger homes.
5. Are there other similar properties nearby?
The listing references nearby homes on Larsen Avenue with similar low assessed values (e.g., 434 Harbison Ave W at $13.90k), indicating this is a pocket of the neighbourhood with comparable valuation characteristics.