Property Overview: 517 Larsen Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1925, situated on a modest lot in the Chalmers neighbourhood. Its key characteristic is its efficiency: with 627 sq ft of living space, it is notably smaller than most homes on its street, in the area, and across Winnipeg. This is reflected in its assessed value, which is around average for Larsen Avenue but below average for the wider city.
The appeal lies in its potential as an affordable entry point into homeownership or as a straightforward investment property. It suits buyers seeking minimal upkeep, such as first-time buyers comfortable with a cozy footprint, or investors looking for a rental property with lower carrying costs. A less obvious perspective is that its older construction date (1925) is actually above average for its immediate street, suggesting it may be among the more established homes in the block. The presence of a detached garage adds practical storage or workshop space. This property is not suited for those needing ample room, modern finishes (the basement is noted as not renovated), or a large yard.
Frequently Asked Questions
1. How does the size of this home compare to others?
It is significantly smaller than average. Its living area ranks in the bottom 7% on its own street, the bottom 8% in Chalmers, and the bottom 1% city-wide.
2. What does the assessed value indicate?
The assessed value of $16,600 is typical for Larsen Avenue but is well below the Winnipeg city average. This generally suggests a lower property tax burden and reinforces its positioning as an affordable option.
3. Is the lot size a constraint?
The land area of 2,495 sq ft is smaller than most comparable lots on the street and in the city. This means limited outdoor space but also less yard maintenance.
4. How old is the house, and what does that mean?
Built in 1925, it is 101 years old. While this means systems and structure may require attention, the data shows it is actually newer than many homes on Larsen Avenue, where it ranks in the top 27% by year built.
5. What are comparable nearby properties like?
Listed references show a mix of similarly aged, smaller homes and newer, larger constructions in Chalmers. This highlights the neighbourhood's range, with 517 Larsen Avenue sitting at the more compact and historic end of the spectrum.