Property Overview
1020 Talbot Avenue is a two-storey home in Winnipeg's East Elmwood neighbourhood. Built in 1955, it offers 960 sqft of living space and sits on a 3,007 sqft lot. The property features a basement that is noted as not being renovated and does not include a garage or pool. Its most recent sale was in August 2021 for $240,000, and it currently holds an assessed value of $20,900.
Key Characteristics & Appeal
This home presents a straightforward, no-frills opportunity in a mature neighbourhood. Its primary appeal lies in its relative affordability and its position as a smaller-scale property on a compact lot, which can mean lower maintenance and utility costs. For its immediate area on Talbot Avenue, the living space is around average, and it is actually a newer build compared to many neighbouring houses. This could suggest fewer age-related issues than some peers.
The property would suit first-time buyers seeking an entry point into homeownership, or practical investors looking for a rental property without high overhead. It’s likely best for those comfortable with a home that may require updates over time, as the unrenovated basement offers a blank canvas for future improvement. A less obvious perspective is that the smaller lot and home size offer an efficient, lower-impact lifestyle that aligns with simpler living, contrasting with larger, more demanding properties.
Frequently Asked Questions
1. What does "basement not renovated" typically mean?
It indicates the basement is in a functional but basic state, likely with unfinished or dated finishes. It presents potential for future customization but may not be a modern living space as-is.
2. How does the assessed value relate to the market sale price?
The municipal assessed value ($20,900) is for tax purposes and is typically much lower than the market value. The 2021 sale price of $240,000 is a far better indicator of its actual market worth.
3. Is the smaller lot size a disadvantage?
It depends on your priorities. It limits expansive outdoor projects but reduces yard maintenance time and cost. For some, this is a practical benefit.
4. What does the "newer" build year mean for the area?
Built in 1955, this home is newer than many on its street. This can sometimes correlate with updated building materials or layouts compared to pre-war homes, though a full inspection is necessary.
5. Who might this property not suit?
It may not suit buyers looking for a move-in-ready home with modern renovations, those needing significant storage or garage space, or families requiring more square footage and larger outdoor play areas.