Property Overview & Key Characteristics
This 1979 bi-level home at 1963 Elgin Avenue W in Winnipeg's Brooklands neighbourhood presents a practical and value-oriented opportunity. Its primary appeal lies in a combination of a recently renovated basement, a detached garage, and a lot size that is notably above average for its immediate street and area. With 3,900 sqft of land, the property ranks in the top 24% on its street for lot size, offering more outdoor space than many nearby homes.
The home itself has a modest 850 sqft of living area, which is fairly typical for the Brooklands area. A key financial highlight is its low assessed value ($28,900), which is significantly below the averages for its street and the city. This recently sold for $330,000, a price that placed it in the top 5% of sales on Elgin Avenue W, indicating strong market demand for homes in this condition and location.
This property would best suit first-time buyers or practical investors looking for a solid entry point into the Winnipeg market. It's ideal for those who prioritize land space and the potential for future expansion or outdoor projects over a large existing interior. The renovated basement adds immediate functional living space, making the home liveable despite the smaller main floor square footage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the sale price?
Assessed values in Manitoba are primarily for municipal tax purposes and often do not reflect current market value, especially for recently renovated properties or in rapidly moving markets. The sale price is the true indicator of its market worth.
2. What does the "bi-level" building type mean?
A bi-level typically has a main entry between two floors. You walk in to a small foyer, with stairs leading up to the main living areas and stairs leading down to a lower level, which in this case has been renovated.
3. The living area is listed as below average city-wide. Is the house too small?
While the 850 sqft is below the Winnipeg average, it is around the average for the Brooklands neighbourhood itself. The renovated basement effectively adds more usable space, and the above-average lot size offers balance and potential.
4. How does the lot size compare to nearby properties?
The 3,900 sqft lot is a standout feature. It's larger than about 76% of comparable lots on the same street, meaning you likely have more yard space than your immediate neighbours.
5. The home sold recently. What does that price tell me?
The $330,000 sale price, placing it in the top 5% on its street, suggests buyers placed a high value on this specific property's combination of a renovated basement, detached garage, and lot size, despite its older age and modest interior square footage.