Property Overview: 580 Elm Street, Central River Heights
Key Characteristics & Appeal
This two-storey home, built in 1950, sits on a standard 5,068 sqft lot in the sought-after Central River Heights neighborhood. Its primary appeal lies in its above-average living space (1,540 sqft) for the area, offering more room than many neighboring homes, combined with the value of a recently renovated basement. The detached garage adds practical utility. While the house itself is older, its assessed value positions it favorably compared to both local and city-wide averages, suggesting a solid foundation for the price.
This property would suit a practical buyer looking for a character home in a prime location without needing a massive lot. It’s ideal for someone who values move-in readiness in the basement space and appreciates having more interior square footage than is typical for the community. The data indicates it offers a balanced proposition: not the newest or largest lot on the street, but a competitively sized home with modernized updates in a highly desirable neighborhood.
Frequently Asked Questions
1. How does the lot size compare to others in the area?
The lot is just under the average for Elm Street itself and is a standard size for Central River Heights. It provides typical yard space for the neighborhood but isn’t considered oversized.
2. The home was built in 1950. What should I consider?
While the basement has been renovated, the core structure is 76 years old. Prospective buyers should prioritize a thorough inspection to understand the condition of major aging components like the roof, plumbing, and electrical systems.
3. The living area is listed as "above average" for the neighborhood. What does that mean?
Most homes in Central River Heights have less living space. With 1,540 sqft, this home offers more interior room than approximately 76% of comparable properties in the immediate area, which is a key advantage.
4. How is the assessed value of $48.5k relevant to the sale price?
The assessed value is for municipal tax purposes and is historically much lower than market value. The last recorded sale was in 2017 for $400k. Market conditions, renovations, and demand will determine the current listing and sale price.
5. What is the significance of the detached garage?
A detached garage is common for homes of this era. It provides secure parking and storage but may require walking outside to access the house—a factor to consider during Winnipeg winters.