Property Overview
This two-storey home on Elgin Avenue W in Brooklands presents a distinct opportunity. Built in 1907, it sits on a modest 2,597 sqft lot but offers a surprisingly spacious 1,438 sqft of living area, which is well above average for the neighbourhood. The property features a detached garage and an unrenovated basement. Its most compelling characteristic is its assessed value, which is significantly below the Winnipeg average, suggesting a lower property tax burden and a potentially accessible entry point into the market.
The appeal lies in its value proposition and space. For the price, buyers get more interior room than most nearby homes. It would suit a practical buyer looking for a character home with good bones, who is prepared for a basement project and values interior space over a large yard. It’s also a candidate for investors or homeowners comfortable with a property whose value is primarily in the structure itself rather than the land.
Frequently Asked Questions
What does "below average" assessed value mean for me?
It typically translates to lower annual property taxes compared to homes with similar living space in newer areas of the city. However, it can also reflect the age of the home and the modest lot size.
Is the unrenovated basement finished?
The listing specifies it is "not renovated," which generally means it is unfinished or in a rough, original state, presenting both a blank canvas and a future project.
How significant is the living area being in the "Top 3%" for Brooklands?
This is a key feature. It means this home offers substantially more interior space than 97% of comparable properties in the immediate neighbourhood, which is a notable advantage for daily living.
The home is 119 years old. What should I consider?
While the structure has proven its durability, a pre-purchase inspection is essential. Focus on the foundation, roof, wiring, and plumbing to understand what maintenance or updates may be needed.
Why is the last sale price from 2017 so much lower than the current assessed value?
The 2017 sale price of $15,500 is not a direct market comparison. It likely indicates a distressed sale, transfer between family members, or a sale of the property in a very different condition. The current assessed value is a more relevant benchmark for today.