Property Overview
This 720 sqft, one-storey home on a 2,833 sqft lot presents a specific and practical opportunity in East Elmwood. Built in 1961, its key characteristic is its compact, efficient footprint. The home features a renovated basement and a detached garage. Its assessed value is notably lower than area averages, positioning it as one of the more accessible entry points into the Winnipeg market.
The primary appeal lies in its affordability and manageability. It suits first-time buyers seeking a straightforward, lower-maintenance property to build equity, or investors looking for a pragmatic rental opportunity. A thoughtful perspective is that a home of this size and vintage, with a renovated basement, can offer a "right-sized" living experience without the burden of excessive space, utility costs, or upkeep that comes with larger, older character homes. Its average-to-smaller lot size further reduces weekend maintenance demands.
Frequently Asked Questions
1. Is this a "tiny home"?
Not exactly. At 720 sqft above grade, it is compact and efficient, but with a renovated basement and detached garage, the total usable space is greater than the main floor living area suggests.
2. Why is the assessed value so much lower than nearby averages?
The assessed value reflects factors like the home's smaller size, older age, and the specific market segment it occupies. It indicates a more budget-friendly entry point compared to larger, renovated, or newer homes in the broader area.
3. What does the "rank" and "top X%" data mean for living area?
This statistical comparison shows the home's living area is smaller than most peers. For example, ranking in the "Top 92%" on its street means only 8% of comparable homes on Clyde Road are smaller; it is notably below the street's average size of 1,585 sqft.
4. Who would this property not be well-suited for?
It may not suit buyers who need multiple bedrooms or dedicated spaces for a home office, hobbies, or large family gatherings without utilizing the basement. Those prioritizing a large private yard or extensive square footage would likely find it limiting.
5. What is the potential here for a buyer?
The potential is in securing an affordable, manageable asset. For an owner-occupant, it's a chance to enter the market with lower carrying costs. For an investor, the renovated basement may support a rental suite, potentially enhancing the financial return on a modest initial investment.