Property Overview: 535 Elgin Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in Winnipeg's Centennial neighbourhood, built in 1900. It sits on a 3,200 sqft lot, which is a very workable size for the area. The home offers 1,232 sqft of living space, a detached garage, and a basement that is present but not renovated. There is no pool.
The primary appeal lies in its position as a straightforward, lower-priced entry point into the Winnipeg market, particularly in a central neighbourhood. The assessed value is significantly below the citywide average, suggesting a potentially manageable property tax burden and an opportunity for buyers focused on land value and location over a modernized home. It last sold in 2016 for $150,000.
This property would best suit a practical buyer—perhaps a first-time homeowner, an investor, or a hands-on renovator—who is comfortable with a project. The buyer should be drawn to the character and established streets of an older neighbourhood rather than seeking new construction. Its appeal is grounded in fundamentals: a decent lot size, a central location, and a price point that allows room for gradual improvements according to an owner's own taste and budget.
Section 2: Frequently Asked Questions
1. What does "one & 3/4 storey" mean?
Typically, this style features a full main floor and a second floor where the roofline slopes inward, reducing the ceiling height or square footage in parts of the upper level. It's a common, charming design in many of Winnipeg's older neighbourhoods.
2. Is the basement finished or usable for storage?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate an unfinished space that may be suitable for utilities and storage but will likely require inspection for moisture issues and updates to meet modern living standards.
3. How does the assessed value compare?
At $15,900, the assessed value is around average for Centennial but far below the Winnipeg citywide average. This generally indicates a lower property tax bill, but it also reflects the home's age and condition relative to newer properties.
4. What is the neighbourhood like?
Centennial is a mature, central neighbourhood. The lot size here is typical for the area, offering a balance of urban proximity and private outdoor space. As with any central locale, researching specific street dynamics is recommended.
5. What are the major considerations given the age?
Built in 1900, the home is over a century old. Prospective buyers must prioritize a thorough inspection for foundational integrity, wiring, plumbing, and insulation. While it offers charm, updating these core systems is often the primary project, not just cosmetic renovations.