Property Overview
514 Larsen Avenue is a modern, renovated bi-level home built in 2019, offering a low-maintenance lifestyle in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its "like-new" condition within a market of predominantly older homes, providing immediate move-in readiness without the concerns of aging infrastructure. The renovated basement adds functional living space to the 934 sqft main floor.
This property is an ideal match for first-time homebuyers seeking a modern, affordable entry into the market, or for downsizers looking for a manageable property without renovation projects. It also suits pragmatic investors interested in a newer asset with potentially lower maintenance costs. A thoughtful perspective is its standout assessed value relative to its immediate area—it ranks in the top 5% on its street and in Chalmers, suggesting it is viewed as a premium property in its local context, despite its smaller citywide land footprint. The appeal is one of modern convenience and quality over sheer size.
Frequently Asked Questions
1. How does the lot size compare to others?
The land area of 2,500 sqft is below average for the city, but is quite typical for the Chalmers neighbourhood and Larsen Avenue itself. This translates to a manageable yard requiring less upkeep.
2. What does the "Elite" ranking for Year Built mean?
Built in 2019, this home is newer than approximately 97% of homes on its street and 99% of homes in the Chalmers area. This is a significant advantage, implying newer construction standards, materials, and systems.
3. Is the assessed value of $31.5k typical?
For its specific location, the assessed value is notably high (Top 5%), reflecting the premium for a new build in the area. Citywide, however, it sits around the average mark, indicating you are paying primarily for the modern home itself rather than an expansive lot location.
4. What is the significance of the renovated basement?
The finished basement effectively expands the liveable space beyond the main floor square footage, adding flexibility for a family room, home office, or additional storage. In a bi-level, this space is often integral to the home's functionality.
5. How does this home fit the local market?
It represents a modern outlier in a neighbourhood of mostly century-old homes. Buyers should weigh the value of new construction and minimal immediate repairs against having a smaller property footprint than might be found in suburban areas.