Property Overview
This 1988-built, one-storey home at 1915 Elgin Avenue W in Brooklands presents a specific and practical opportunity. Its key appeal lies in being a more modern structure within a neighbourhood of older homes, featuring a renovated basement. The living space is compact at 810 sq ft, but the property sits on a 2,596 sq ft lot. It last sold in 2020 for $190,000, with a current assessed value significantly lower at $21,600.
Key Characteristics & Ideal Buyer
This property is defined by its contrasts. It is a newer home (built in 1988) in a historic area, offering modern systems and likely lower immediate maintenance than many neighbouring houses. However, its living area is modest and its lot size is smaller than most on its street and in the city. The renovated basement adds valuable functional space.
Its primary appeal is efficiency and entry-point affordability. It suits a first-time homebuyer, an investor, or a downsizer seeking a low-maintenance, modern-footprint home without a major renovation project. The low assessed value suggests potentially manageable property taxes, a significant ongoing cost consideration. A thoughtful perspective is that this home offers a way to live in a character neighbourhood while inhabiting a newer, simpler structure—a trade-off between historic charm and modern practicality.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Assessed values for property tax purposes are mass appraisals and often lag behind current market sale prices, which are influenced by direct buyer demand. A significant gap is not uncommon.
2. What does "renovated basement" typically mean for a home of this age?
For a 1988 home, a renovated basement likely includes finished living space, but it’s essential to confirm the quality, permits, and moisture control measures, as basements in this region can be prone to dampness.
3. Is the smaller lot size a disadvantage?
It depends on your priorities. A smaller lot means less yard maintenance, which can be a benefit for those seeking simplicity. However, it offers less private outdoor space and limited potential for expansions like a large addition or garage.
4. How does the property’s "newness" compare to the area?
The 1988 build date is notably newer than the area average (often pre-1960s). This can mean more modern wiring, plumbing, and insulation, but the architectural style will differ from the neighbourhood's traditional character homes.
5. Who might this property not suit?
It may not suit buyers needing multiple bedrooms or abundant living space, those who prioritize a large yard or gardening space, or buyers specifically seeking the classic charm and architectural details of an older Winnipeg home.