Property Overview
This 936 sqft one-storey home on a 4,008 sqft lot in East Elmwood presents a practical, no-frills opportunity. Built in 1954, it features a renovated basement and a detached garage. Its key appeal lies in its position as a modestly-sized, functional property in a neighborhood of similar homes. It last sold in December 2023.
The data reveals a home that is consistently average or slightly below average for its immediate area in terms of size, lot, and assessed value, but falls further below Winnipeg-wide averages. This suggests a property suited for a specific buyer: someone seeking an affordable, straightforward entry into homeownership without the premium for above-average size or finishes. It would suit a first-time buyer, an investor looking for a rental property, or someone wanting a manageable footprint with renovation potential. A thoughtful perspective is that its "average" standing on its street offers stability and predictability, insulating it from the wider city's more competitive market pressures while providing room for value growth through updates.
Frequently Asked Questions
1. Is this a good value for a first-time home buyer?
Based on the data, the home's assessed value is below average for the street, neighborhood, and city. For a buyer prioritizing entry into the market with a lower upfront cost, it represents a typical value proposition for East Elmwood.
2. What does the "renovated basement" likely include?
The listing notes the basement is renovated, but specifics aren't provided. Buyers should inquire about the scope, permits, and the nature of the renovation (e.g., finished living space, updated utilities, or moisture management) to understand its condition and functionality.
3. How does the living space compare to nearby homes?
At 936 sqft, the living area is slightly below the average for both Nairn Avenue (~1,015 sqft) and East Elmwood (~1,065 sqft). This indicates a more compact, efficient layout compared to many neighbors, which can mean lower utility costs and less maintenance.
4. What is the potential for future expansion or renovation?
The lot size is standard for the area. While not oversized, the 4,008 sqft parcel is consistent with neighboring properties and could allow for additions like a larger garage, deck, or garden space, subject to local zoning bylaws.
5. Why did it sell recently in December 2023?
The property changed hands recently. While the specific reason isn't stated, a quick turnaround could indicate an investor purchase, estate sale, or owner relocation. A title search and discussion with the selling agent could provide context for the brief ownership period.