Property score
52.9
Fair
Overall 52.9 · Larger than most nearby homes
1,127 sqft (top 23%) · Built in 1923 (11 yrs older than avg)
Located in a average-income area with median household income of ~58.4k
Transit 86.0 · 3-min walk to transit with 4 nearby routes · Within 500m: 1 dining spot, 1 school, and 4 parks nearby
Living Area
Above average
18% larger than neighborhood avg.
Year Built
Near average
11 yrs older than neighborhood avg.
Mother tongue
English · 75%Tagalog · 6%
Past 10 years Chalmers sales snapshot (~80% of all data)
1,193
206.3k
$226/sqft
1934
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52.9 is composed by the two sections below.
Property Score
Community Score
Chalmers
How to read: Share of sales in each ~$50k price band for “chalmers” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110934
$58K
Median household income
$73K
Average household income
20%
Low income (LIM-AT)
0.2
Income inequality (Gini)
3.2
P90 / P10 ratio
39%
Single-person households
16%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
554 Larsen Avenue — 6 amenities found within 500 m, across 3 categories, including 1 dining (nearest 428 m), 1 education (nearest 287 m), 4 parks (nearest 71 m).
Chalmers · WPS public data · 2026
Annual incidents
67
2026
vs. city avg
+127%
relative to avg
Year-over-year
▼ -94%
vs. prior year
Primary type
Property
51%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Top 41% | Top 45% | Bottom 12% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This two-storey home at 554 Larsen Avenue in Winnipeg's Chalmers neighbourhood presents a specific and practical opportunity. Built in 1923, it sits on a 2,503 sqft lot and offers 1,127 sqft of living space. Key features include a basement (not renovated) and no garage. The home last sold in June 2022 for $20,500 and currently holds an assessed value of $170,000.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its value proposition and potential. The living area is notably above average for both its street and neighbourhood, offering more interior space than many comparable homes. However, the lot size is below average for the city, and the assessed value sits well below Winnipeg's broader market average. This creates a clear profile: a compact, older home on a modest lot, priced accessibly.
It would suit a pragmatic, value-conscious buyer. This could be a first-time homeowner willing to put in sweat equity, an investor looking for a rental property with a lower entry point, or someone seeking a modest, no-frills home in the area. Its appeal is not in luxury finishes or size, but in affordability and the functional space it provides relative to its immediate peers. A thoughtful perspective is that its "below average" city-wide metrics might actually be an advantage for buyers seeking lower property taxes and a simpler footprint to maintain.
Section 2: Frequently Asked Questions
1. Why is there such a large difference between the recent sale price and the current assessed value?
The sale in 2022 was at a very low price point, potentially indicating a distressed sale, a non-arms-length transaction, or the sale of the property in poor condition. The assessed value is the city's estimate of its market value for taxation purposes, which can often be higher than a quick-sale price.
2. What does "basement, not renovated" typically imply?
This usually means the basement is in original or utilitarian condition. It likely has foundational finishes (concrete floors, exposed beams/mechanicals) and serves as basic storage or laundry space. It should be inspected for moisture issues common in older Winnipeg homes but represents potential for future finishing.
3. How does the lack of a garage affect daily life and value?
It means relying on street parking, which is a consideration for Winnipeg winters. It lowers the property's value compared to homes with garages but is reflected in the price. Buyers should assess on-street parking availability on Larsen Avenue.
4. The home is older—what are the major system concerns?
A home built in 1923 will likely have original or aged major components. A thorough inspection should focus on the foundation, roof, plumbing, electrical wiring (knob-and-tube may be present), and heating system to understand upcoming capital costs.
5. The assessed value is below the city average. Is that good or bad?
It's a double-edged sword. It suggests a more affordable purchase price and potentially lower property taxes, which is a benefit for cost-conscious buyers. However, it also generally indicates the home is valued below the broader market, which could reflect its condition, lot size, or location within the city.
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