Property Overview & Key Characteristics
This one-storey home at 491 Larsen Avenue in Winnipeg's Chalmers neighbourhood is a compact, character property built in 1913. With 616 square feet of living space, it is notably smaller than most city homes, placing it in the top 1% for compact size citywide. Its appeal lies in its efficiency and renovated basement, offering a low-maintenance footprint on a standard city lot of approximately 3,300 sq ft. The assessed value is modest compared to the city average, but is typical for its immediate area.
This property would best suit a first-time buyer, an investor, or someone looking to downsize significantly. Its lower price point and manageable size present an accessible entry into the market. A thoughtful perspective for a buyer is the potential for a simplified, cost-effective lifestyle, where utility costs and upkeep are naturally minimized by the smaller scale. The renovated basement adds valuable flexible space, which is a key asset in a home of this size.
Frequently Asked Questions
1. Is the living area of 616 sq ft accurate for the whole home?
Yes, the above-ground living area is listed as 616 square feet, which is quite compact. The home does include a renovated basement, which provides additional flexible space not counted in the official living area.
2. How does the assessed value relate to the likely sale price?
The municipal assessed value is $18,800, which is used for property tax calculation. Sale prices are determined by the market. Recent sales on the street (e.g., $170k in 2020, $140k in 2018) are more relevant indicators of market value.
3. What does the "top 94%" ranking for living area mean?
This statistic means that 94% of homes in Winnipeg are larger. It confirms this is a notably smaller-than-average home citywide, though it is more comparable in size to others on Larsen Avenue.
4. Are there any major concerns with a home built in 1913?
While the basement has been renovated, the core structure is over a century old. Prospective buyers should prioritize a thorough inspection to assess the condition of foundational elements, plumbing, electrical systems, and the roof.
5. What is the parking situation?
The listing specifies there is no garage. Parking would be limited to on-street, so it's important to verify local parking regulations and typical availability.