Property Overview: 433 Elgin Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1883, presents a unique blend of historic character and practical potential. Its primary appeal lies in its generous proportions. The 1,664 sqft living area is notably larger than most comparable homes in the Centennial neighborhood and on Elgin Avenue itself. This is complemented by an above-average land parcel of over 5,100 sqft, offering valuable outdoor space in a city context.
The property suits two main types of buyers. First, it’s a candidate for a patient renovator or investor who sees value in the sizable structure and lot, and is prepared for the considerations of a 140-year-old home with an unrenovated basement. Second, it appeals to those prioritizing interior space and lot size over modern finishes, who may find better value here than in a smaller, updated property. A less obvious perspective is its statistical standing: while its age is a notable factor, its assessed value remains competitive within its immediate area, suggesting it may be viewed as a land-and-footprint play in a neighborhood of older homes.
Section 2: Frequently Asked Questions
1. What does “one-and-three-quarter storey” mean?
This is a common architectural style where the second floor has slightly less full headroom than the main floor, often with dormer windows. It typically offers more space than a bungalow but with a different layout than a full two-storey home.
2. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is influenced heavily by the home’s age, condition, and lack of recent renovations. It reflects the city’s valuation, not necessarily the market price, which can be higher based on lot value, location, and buyer demand.
3. How significant is the 1883 build date?
It means the home is a true historic property. Buyers should budget for potential updates to older mechanical systems, insulation, and wiring, and should seek specialized inspections. This age also contributes to its character and is a key reason for its larger-than-average lot and footprint.
4. The basement is noted as “not renovated.” What should I expect?
This typically indicates an original or utilitarian space with concrete floors, exposed beams, and basic finishes. It offers significant storage or future development potential but will require investment to become a finished living area.
5. How does the lot size compare?
At 5,108 sqft, the lot is substantially larger than the average for both Elgin Avenue and the Centennial neighborhood. This is a major asset, providing ample yard space, room for additions, or landscaping possibilities that are rare in central urban areas.