Property Overview
This two-storey home at 434 Elgin Avenue in Winnipeg's Centennial neighbourhood presents a distinct profile. Built in 2014, it is a notably modern property in an area with many older homes. With 1,814 sqft of living space, it offers significantly more room than most comparable houses on its street and in the neighbourhood. The property sits on a 3,092 sqft lot, which is typical for the local area. Key features include a basement (unrenovated) and no garage. The home last sold in December 2019 for $26,900 and currently holds an assessed value of $31,200.
Key Characteristics & Appeal
The primary appeal of this property lies in its modern construction and above-average interior space within a well-established neighbourhood. As a home built in 2014, it stands out in Centennial, where the average comparable home was built in the 1920s. This suggests advantages like newer building systems, modern layouts, and potentially lower immediate maintenance costs. The living area is spacious for the locale, offering room that is hard to find in older, often more compact, area homes.
This home would suit a specific type of buyer: someone seeking the character and location of an older Winnipeg neighbourhood but with the practical benefits of a newer build, without taking on a major renovation project. It’s a pragmatic choice for those who want to avoid the surprises that can come with century-old homes. The unrenovated basement represents both a cost-saving aspect (reflected in the value) and a blank canvas for future expansion. It’s important to note that the absence of a garage and the average-sized lot mean outdoor and vehicle storage space is typical for the area, not a standout feature.
Frequently Asked Questions
1. Why is the sale price and assessed value so much lower than typical Winnipeg home prices?
The values reflected are specific to this property and its immediate context. They are influenced by factors like the home's characteristics, lot size, and the local market for similar properties in Centennial.
2. What does the "Elite" or "Top" ranking for Year Built mean?
These rankings compare this home against similar properties. An "Elite" rank in Year Built for the neighbourhood means it is among the newest 4% of comparable homes in Centennial, highlighting its modern age relative to its surroundings.
3. Is the large living area unusual for this area?
Yes. The data shows its living area ranks in the top 7% on its street and top 14% in the neighbourhood, meaning it offers more interior space than the vast majority of comparable homes nearby.
4. What should I consider about the unrenovated basement?
While it offers potential for future customization, an unrenovated basement means that space is likely in a basic, functional state. Buyers should budget for finishing costs if they wish to use it as living space and have it inspected to understand its current condition.
5. How does the lot size compare?
At just over 3,000 sqft, the lot is around the average size for Centennial and Elgin Avenue. It provides standard outdoor space for the area but is below the much larger average lot size for the entire city.