Property Overview: 1044 Talbot Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This well-situated one-storey home on Talbot Avenue presents a solid opportunity in Winnipeg's East Elmwood neighborhood. Its key characteristic is a strong, above-average assessed value for its immediate area, suggesting it is a well-regarded property on its street and within the community. The home itself is a manageable 884 sqft with a renovated basement, featuring a detached garage and a standard 4,170 sqft lot. It was built in 1955, making it newer than many on its block.
The appeal lies in its position as a established, value-holding home in a mature neighborhood. It suits first-time buyers or downsizers looking for a low-maintenance, single-level layout with modernized basics. A thoughtful perspective is that while the living space is modest city-wide, its value ranking indicates you're paying for a premium lot location and a stable community rather than sheer square footage. It’s a practical choice for someone prioritizing neighborhood equity and a renovated foundation over a larger, potentially dated footprint.
Section 2: Frequently Asked Questions
1. How does the recent sale price compare to the assessment?
The home sold for $350,000 in February 2024, which is approximately 13% above its $310,000 assessed value. This indicates strong market demand at the time of sale.
2. Is the living space small for the area?
At 884 sqft, it is slightly below the average for East Elmwood (~1,065 sqft) but is actually quite typical for Talbot Avenue itself, where comparable homes average about 997 sqft.
3. What does the "above average" assessed value ranking mean?
This means the home's official assessed value is higher than most of its immediate peers. On Talbot Avenue, it ranks in the top 11%, and in East Elmwood, the top 18%. This often reflects desirable lot attributes, updates, or a premium location within the neighborhood.
4. Is the 1955 build date a concern?
While 71 years old, the home is notably newer than the average house on its street (avg. 1943). The renovated basement also suggests some key systems have been updated. A standard inspection is always advised to understand the condition of the roof, wiring, and plumbing.
5. How does the lot size compare?
The lot is a standard size for the central neighborhood, aligning with averages on Talbot Avenue and in East Elmwood. It is, however, below the city-wide average, which includes newer suburban developments with larger lots.