Property Overview
This one-storey home at 532 Harbison Avenue W in Winnipeg's Chalmers neighbourhood presents a specific and practical value proposition. Its key appeal lies in the balance between a modest, renovated living space and a generously sized lot in a well-established area. Built in 1959, the 699 sqft house sits on a 4,359 sqft lot, which is notably larger than most in the immediate vicinity and the broader neighbourhood. This combination means the property's value is anchored more in its land and location than in its interior square footage.
The home would suit first-time buyers or downsizers seeking an affordable entry into the market with a manageable space and a renovated basement. It also appeals to value-oriented investors or long-term owners who see potential in the lot size for future expansion, gardening, or outdoor space, which is a premium in older neighbourhoods. Its assessed value is consistent with area averages, suggesting a stable, no-surprises investment rather than a speculative play.
Frequently Asked Questions
1. How does the home's size compare to others?
The living area is 699 sqft, which is below average for the street, neighbourhood, and city. This indicates a compact, efficient layout suited for simpler living.
2. What is the significance of the lot size?
The 4,359 sqft lot is a standout feature, ranking in the top 7% on its street and top 20% in Chalmers. It offers more outdoor space than typical properties in the area.
3. Is the assessed value in line with the recent sale price?
The property sold for $19,600 in June 2024, while its current assessed value is $230,000. It's important to consult with a real estate professional to understand current market conditions and the factors behind this difference.
4. What does the "above average" year built mean for a 1959 home?
While 1959 is not new, it is considered "above average" for this specific street and neighbourhood, where many homes are significantly older (average year built ~1934). This suggests potentially newer infrastructure compared to immediate peers.
5. What type of buyer should consider this property?
It's best suited for those prioritizing lot size and location over interior space. The compact, renovated home is manageable for individuals, couples, or investors, with the large lot offering future flexibility or outdoor enjoyment.