Property Overview: 679 Elm Street, Central River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a generous 5,303 sqft lot presents a specific and compelling opportunity. Its key characteristic is the significant value placed on the land itself, situated in the desirable Central River Heights area. The house, built in 1953, is notably compact at 1,027 sqft of living space, which is well below the average for the immediate street and neighbourhood. However, it features a renovated basement and a detached garage.
The primary appeal lies in its potential. For the price-conscious buyer seeking entry into a prime location, it offers a solid footprint in a mature community known for its charm and amenities. It perfectly suits a hands-on buyer—perhaps a first-time homeowner willing to live in a cozy space while planning future expansions, or an investor looking for a land-value play with a rentable basement suite. The below-average assessed value for the area suggests room for value growth through updates or strategic renovations. It’s a property for those who see foundation and possibility, rather than a move-in-ready finish.
Section 2: Frequently Asked Questions
1. Is the low living area a major drawback?
It depends on your needs. For a single person, couple, or small family comfortable with efficient living, it’s manageable, especially with a renovated basement for additional space. For those needing ample room, it would feel cramped without a significant addition.
2. Why is the assessed value lower than many neighbours?
The assessed value is typically based on the property as it exists. The combination of a smaller, older home on a valuable lot results in an assessment that reflects the current structure more than the full land potential, which can represent an opportunity.
3. What does "renovated basement" include?
The listing does not specify the extent. We recommend this be a key question for the seller or their agent to understand the finish quality, ceiling height, proper permits, and whether it includes a separate entrance or kitchenette.
4. How does the 1953 build year affect the home?
Being newer than many homes on the street is a plus for core systems, but a home of this age will still likely have original or aging components. A thorough inspection for the roof, wiring, plumbing, and insulation is essential.
5. Who is this property not suited for?
It’s likely not a fit for buyers seeking a large, turn-key home without renovation plans, or for those who prioritize immediate spaciousness over location and long-term potential.