Property Overview
This two-storey home at 675 Elm Street in Winnipeg's Central River Heights presents a practical opportunity in a well-regarded neighbourhood. Built in 1953, it sits on a roughly 4,800 sqft lot, which is a comfortable, average size for the street and area. The home's 1,344 sqft of living space is compact but efficiently laid out, and it includes a key modern update: a renovated basement. A detached garage provides additional storage or parking.
Its primary appeal lies in its balance of location, a move-in-ready basement, and a manageable scale. It suits first-time buyers seeking an entry point into a central neighbourhood, downsizers looking for less maintenance without sacrificing community amenities, or practical investors attracted by the below-average purchase price relative to its assessed value. A thoughtful perspective is that while the house itself is modest in size, its above-average assessed value for the neighbourhood suggests the lot and location hold significant worth, potentially offering future value in the land itself.
Frequently Asked Questions
1. Is the house smaller than others on the street?
Yes. With 1,344 sqft of living area, it ranks below the street average. This translates to a more manageable and efficient layout, which can mean lower utility costs and less upkeep.
2. How does the 2017 sale price compare to the current assessed value?
The home sold for $42,800 in 2017 and now has an assessed value of $50,600. This indicates a growth in value, and the current asking price may present an opportunity below the city-wide average for similarly assessed homes.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key detail to clarify with the selling agent to understand if it's a finished living space, a modernized utility area, or something in between.
4. Is a 1953-built home a concern?
While older, the home's build year is actually newer than many on its street and in Central River Heights. This can be an advantage, but a thorough inspection is always recommended to understand the condition of major systems like plumbing, electrical, and the roof.
5. Who might this property not suit?
It may not suit buyers looking for a large, turn-key family home with ample above-ground square footage or modern open-concept layouts. The smaller living area and traditional two-storey design cater to those with simpler space needs.