Property Overview: 720 Talbot Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1907, presents a classic character property with practical considerations. Its primary appeal lies in offering above-average interior space for both its immediate street and the East Elmwood neighbourhood, featuring 1,312 sqft of living area. This makes it a notably roomier option compared to many nearby homes. The property includes a detached garage and a full, unrenovated basement, providing storage and workshop potential.
The home suits buyers who value space and established neighbourhoods over modern construction and large lots. It’s a practical fit for first-time buyers or investors comfortable with the maintenance realities of an older home, as the vintage 1907 build date indicates potential for updates. A thoughtful perspective is its assessed value, which is strong for the local area but modest city-wide, suggesting it represents a value-oriented entry into a community where your investment goes further into living space rather than land. The lot, while smaller than area averages, offers manageable upkeep.
Section 2: Frequently Asked Questions
1. What does "above average for the street/neighbourhood" really mean for living space?
The data shows this home’s living area is larger than approximately 87% of similar homes on Talbot Avenue and 85% in East Elmwood. You are getting significantly more interior room than most comparable properties nearby.
2. The home was built in 1907. What should I consider?
While offering classic charm, a home of this age will likely have older mechanical systems (like plumbing and wiring), windows, and insulation. The unrenovated basement also suggests original foundations and utility spaces. A thorough inspection is essential to understand modernization needs and costs.
3. How does the assessed value compare to the last sale price?
The home was last sold in March 2017 for $250,000. Its current assessed value is $27,700. In Manitoba, property assessment is not market value; it is a value set for taxation purposes, typically a percentage of a theoretical market value. The large difference is normal and not an indicator of the current asking or market price.
4. The land area is noted as "below average." How significant is this?
The lot is approximately 3,100 sqft, which is smaller than many in the city and area. This means a smaller yard but also less maintenance. It’s a trade-off that prioritizes the house size itself over outdoor space.
5. Who would this property not suit?
It may not be ideal for buyers seeking a move-in-ready modern home, those wanting extensive yard space, or anyone hesitant about the potential renovation projects common with century-old houses. It’s a property for those who see potential and value space over newness.