Property Overview
This 720 sqft bungalow at 119 Larche Avenue W in Winnipeg's Radisson neighbourhood presents a distinct value proposition centered on its generous lot. Built in 1973, the home itself is notably compact compared to area and city averages, but it sits on an 8,419 sqft property—a lot size that ranks in the top tier for both its street and neighbourhood. With an assessed value of $329k, it is priced consistently with local benchmarks. The appeal here is less about the interior space and more about the potential rooted in the land itself.
Key Characteristics & Ideal Buyer
The primary draw is the expansive, above-average lot in a mature neighbourhood. While the living area is modest, the property offers significant outdoor space for gardening, recreation, or future expansion. Its assessed value is very much in line with the local market, suggesting a fair entry point into homeownership. This property would suit a pragmatic first-time buyer comfortable with a cozy footprint who values private outdoor space over square footage, or an investor/owner looking for a property with clear redevelopment or renovation potential down the line. It’s a home that asks the buyer to see value in what can be built or cultivated, not just in what currently exists.
Frequently Asked Questions
1. Is the house too small for a family?
While the 720 sqft living area is below average for the city, its functionality depends on family size and lifestyle. The large lot provides crucial extra "living" space outdoors, which can offset a smaller interior for some buyers.
2. Why is the assessed value average when the lot is so large?
Assessed values typically reflect the current state and size of the home as much as the land. The modest size and age of the dwelling likely keep the assessment in line with the neighbourhood average, despite the premium lot.
3. What could I do with such a large lot?
Beyond gardening and outdoor living, the lot size may allow for additions like a garage, workshop, or expansion of the home itself, subject to local zoning and permit approvals. It's a key asset for future value.
4. How does the sale history influence the price?
The property last sold in August 2023 for an estimated $300k-$350k. This recent sale provides a solid, current benchmark for its market value, showing stability in a shorter-term holding.
5. Are older homes like this expensive to maintain?
Built in 1973, this home is newer than many in Radisson. While any 50-year-old home will require upkeep, its systems and structure may be in a different stage of life than a century-old property, potentially offering a balance of mature neighbourhood charm with somewhat more modern construction.