Property Overview
This one-storey home at 156 Clyde Road in East Elmwood is a compact, no-frills property built in 1961. With 720 square feet of living space, it is notably smaller than most homes in its immediate area, city-wide, and even within the neighbourhood. It sits on a roughly 3,700 sqft lot, which is also below average in size for Winnipeg. The home features a detached garage and an unrenovated basement. Its most recent sale was in 2017 for $19,200, and its current assessed value is $22,100, which is modest but around average for its specific street.
The primary appeal lies in its affordability and simplicity. It represents a very low barrier to entry into homeownership, with property taxes that would be minimal. This isn't a move-in-ready showcase home; its value is as a functional blank canvas or a holding property. It would suit a highly budget-conscious first-time buyer willing to live modestly and make gradual improvements, an investor looking for a straightforward rental property with low carrying costs, or someone seeking a small, manageable footprint without the upkeep of a larger house. A less obvious perspective is its potential for someone interested in "right-sizing" from a larger home, prioritizing financial freedom over space.
Frequently Asked Questions
1. Why is the living space so much smaller than area averages?
At 720 sqft, this is a compact bungalow, common in its era but now smaller than modern standards. The data shows it ranks in the bottom 8% for size on its own street, making it one of the smallest homes in the immediate vicinity.
2. What does the assessed value indicate about this property?
The assessed value of $22,100 is very low by city-wide standards but is actually around the middle of the pack (Top 66%) for homes on Clyde Road itself. This suggests the street consists of many modestly valued properties, not that this home is an outlier on its block.
3. Is the basement finished or usable?
The listing specifies the basement is "not renovated." It is present and likely offers additional raw space for storage or potential future development, but it should be considered unfinished in its current state.
4. How does the lot size compare?
The 3,719 sqft lot is below the Winnipeg average but is relatively closer to the norm for East Elmwood. It provides a standard yard space for the area but is not an exceptionally large parcel.
5. The home sold for $19,200 in 2017. What does that mean for today's price?
That historical sale price, significantly below even the current assessed value, underscores the property's long-standing position as an affordable entry-point. It indicates a market segment with very low price volatility and highlights the importance of a current appraisal, as market conditions have likely shifted since 2017.