Property Overview
This one-and-three-quarter storey home, built in 1894, presents a unique opportunity in Winnipeg's Centennial neighbourhood. Its key appeal lies in its substantial 3,210 sqft lot, which is above average for the immediate street and area, offering valuable outdoor space and potential in a central location. The living area of 1,338 sqft is also notably spacious compared to other homes on Elgin Avenue. The property includes a detached garage and a basement, though the basement is noted as not being renovated.
The home’s most defining characteristic is its exceptionally low municipal assessed value, which places it in the bottom tier city-wide. This, combined with the recent 2022 sale price of $14,500, clearly indicates a property in need of significant restoration or redevelopment. Its appeal is squarely for value-driven buyers—investors, builders, or very hands-on homeowners—who see potential in the land size and the sturdy, historic shell, and who have the capacity for a major project. It is not suited for someone seeking a move-in ready home.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical Winnipeg homes?
The assessed value reflects the property's current state as determined by the municipal assessor. A value this low typically corresponds to a structure that requires extensive repairs, modernization, or may even be considered for redevelopment, focusing the value primarily on the land.
2. What does "not renovated" for the basement imply?
This suggests the basement is in original or rough condition. Buyers should anticipate potential issues common to century-old homes, such as low ceilings, outdated utilities, moisture concerns, or unfinished spaces, and should budget for significant upgrades to make it livable or functional.
3. The house is 132 years old. What should I be most concerned about?
While charm and character are benefits, priority investigations should include the foundation integrity, the state of the roof and wiring, plumbing (especially original galvanized or lead pipes), and insulation. The sheer age means systems are likely at or beyond their lifespan.
4. The lot size is a standout feature. What are my options?
The generous lot is the property's chief asset. It provides ample yard space, room for additions like a garage or garden suite (subject to zoning), or, if the structure is beyond repair, the possibility of building a new home. This flexibility is a key advantage over smaller, more typical urban lots.
5. Who would be my neighbours? The nearby comparable properties seem very different.
The listed "similar assessed value" properties are primarily condominium units, which isn't a direct comparison for a single-family lot. Your immediate neighbours are other single-family homes on Elgin Avenue. The wide range of values on the street suggests a neighbourhood in transition, with a mix of renovated and unrenovated historic homes, offering both opportunity and a need for due diligence on area trends.