Property Overview
1094 Beach Avenue is a spacious, two-storey home in Winnipeg's East Elmwood neighborhood. Built in 1960, it sits on a large, 5,172 sqft lot and features over 2,100 sqft of living space, including a renovated basement. The property includes a detached garage and last sold in May 2024.
Key Characteristics & Appeal
This home’s primary appeal lies in its exceptional size and established prestige within its immediate area. With a living area ranking in the top 5% on its street and top 6% in East Elmwood, it offers significantly more interior space than most comparable homes nearby. Its assessed value of $480k places it in the elite top 1% for both Beach Avenue and the wider neighborhood, indicating it is a high-value asset in this community.
Beyond the numbers, the property suits buyers looking for a substantial family home with room to grow, both inside and out. The generous lot provides ample outdoor space, a rarity in many city neighborhoods. The renovated basement adds modern, functional living area. It would particularly suit buyers who value established, tree-lined streets and a home that stands out for its scale and investment profile on its block, rather than seeking brand-new construction. It’s a home for those who appreciate space and a strong foothold in a community.
Frequently Asked Questions
1. How does the sale price from May 2024 relate to the current assessed value?
The home sold for $51,500 in May 2024. This is dramatically lower than its $480k assessed value, which strongly suggests the sale was not an arms-length market transaction (such as a transfer between family members). The assessed value is a better indicator of its municipal valuation for tax purposes and potential market worth.
2. What do the rankings (e.g., Top 1%, Top 5%) actually mean for a buyer?
They contextualize the home against its peers. For example, ranking in the top 1% for assessed value on Beach Avenue means this property is valued higher than 99% of similar homes on the same street. It signals a premium property within its specific micro-market.
3. Is a home built in 1960 a concern?
The year built (1960) is actually newer than the average for both Beach Avenue and East Elmwood. While systems like plumbing or electrical may require updates, the structure itself is from a period known for solid construction. A thorough inspection is always advised.
4. What are the pros and cons of a detached garage?
A detached garage offers flexibility—it could be used as a workshop or studio without concerns about noise or fumes entering the house. The downside is the inconvenience of accessing your vehicle in Winnipeg’s winter weather compared to an attached garage.
5. The lot is large for the area but average city-wide. What does that mean?
While the lot is above average for East Elmwood, it is closer to the city-wide average. This highlights a key feature of many established central neighborhoods: lot sizes are often smaller than in newer suburban developments. Here, you are getting a larger-than-usual lot for this specific, mature community.