Property Overview: 389 Larsen Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home in Chalmers is defined by its generous, above-average lot size—nearly 4,900 sq ft, placing it in the top 3% on its street. While the 1,177 sq ft living area is comfortable and larger than most immediate comparables, the true standout feature is the outdoor space, offering significant potential for gardening, expansion, or recreation. The home benefits from a renovated basement and a detached garage. Built in 1946, it is notably newer than many homes in the immediate area, which may suggest more modern underlying systems compared to its peers.

Its appeal lies in this combination of a sizable, private lot in a mature neighbourhood with the practical updates of a finished basement. It would suit a buyer looking for a solid starter home or downsizer with room to breathe outdoors, or an investor seeking a property with valuable land assets in a stable community. The assessed value is consistently above average for the street and neighbourhood, indicating a historically strong standing in its local market context.

Frequently Asked Questions

1. What does the "above average" assessed value mean for property taxes?
While the assessed value is above average for Larsen Avenue and Chalmers, it is notably below the Winnipeg city-wide average. This typically suggests property taxes that are reasonable and aligned with the neighbourhood, rather than the higher city average.

2. How significant is the lot size practically?
At 4,898 sq ft, the lot is over 50% larger than the average on Larsen Avenue. This isn't just a statistical advantage; it translates to tangible privacy, space for additions like a shed or deck, and less direct crowding from neighbouring homes.

3. The home sold in 2019 for $23.9k. What does that indicate?
This very low sale price, consistent with the current assessed value, strongly suggests this is a land-value transaction. The price reflects the value of the lot and the existing structure, not a renovated or modernized move-in ready home. Buyers should budget for potential updates.

4. Is a 1946-built home a concern?
While 80 years old, the data shows it is newer than most homes on its street and in Chalmers. This can be an advantage, potentially meaning fewer issues with very aged plumbing, wiring, or foundations common in pre-war homes, though a full inspection remains essential.

5. What can nearby properties tell us?
The listed nearby properties on Larsen Avenue have similar assessed values, confirming this is a stable, consistent block. The "worth viewing" comparison on Jamison Avenue, with a 2020 build and a $340k assessment, highlights how dramatically new construction or full renovation changes value, setting clear expectations for this property's price point.