Property Overview: 667 Nairn Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1929, presents a practical opportunity in Winnipeg's East Elmwood neighborhood. Its key characteristic is a well-proportioned living space of 1,173 sqft, which is notably above average for both the immediate street and the broader East Elmwood area. The property includes a detached garage and a full, unrenovated basement, offering functional space and future potential.
The appeal lies in its value-oriented positioning. The home's assessed value is modest relative to city-wide averages, suggesting a potentially accessible entry point into the market. For its specific locale, it offers more interior space than many comparable homes. The lot size, while smaller than newer suburban standards, is consistent with the area.
This property would suit a first-time buyer or a practical investor comfortable with a home of this vintage. It’s ideal for someone who values interior space over a large yard and sees potential in a basement awaiting a personal touch. The buyer should be prepared for the maintenance considerations typical of a nearly century-old home, balanced by the charm and established neighborhood feel it provides.
Section 2: Frequently Asked Questions
1. How does the home’s age impact its value and condition?
Built in 1929, it is older than most homes in the area. This can mean charming original features but also requires a thorough inspection for foundational, electrical, and plumbing systems. Its lower assessed value partially reflects this age.
2. Is the living space truly larger than nearby homes?
Yes. The data shows its living area ranks in the top 25% on its own street and top 22% in East Elmwood, meaning it offers more interior space than most direct comparables, which is a distinct advantage.
3. What does the sale history indicate?
The home sold for $230,000 in late 2023, a significant increase over its 2017 sale price. This recent transaction provides a clear, current market benchmark far above its municipal assessed value, which is used for tax purposes.
4. What is the potential of the basement?
The basement is noted as "not renovated." It offers blank-canvas potential for additional living space, storage, or utilities, but any development would be a future project for the buyer.
5. How does the lot size compare?
At just over 3,300 sqft, the lot is moderately sized for the street but below the average for East Elmwood and the city. This means lower outdoor maintenance but limited space for expansions like large additions or pools.