Property Overview
This one-and-a-half storey home on Talbot Avenue in East Elmwood presents a straightforward opportunity in Winnipeg’s housing market. Built in 1907, it offers 848 square feet of living space with a detached garage and a full, unrenovated basement, situated on a 2,997 sqft lot. Its assessed value is notably below average for the city, reflecting its vintage and modest footprint.
Key Characteristics & Appeal
The primary appeal of this property lies in its position as an affordable entry point into homeownership. It suits first-time buyers, investors, or downsizers comfortable with a home that requires updates. Its living space is actually closer to the average for its immediate street and neighborhood than for the wider city, suggesting it fits the local context of East Elmwood well.
A more thoughtful perspective considers the value of its age. A 1907 build offers character and solid construction not always found in later homes, though it necessitates a thorough inspection. The below-average lot size for the area might mean less maintenance, a potential plus for some, but limits expansion possibilities. The detached garage adds practical utility. Ultimately, this is a home for a pragmatic buyer who sees potential in its established location and is prepared to invest in its future, rather than someone seeking a move-in-ready or spacious property.
Frequently Asked Questions
1. What does the assessed value tell us about the property?
The assessed value of $19,600 is significantly below city and neighborhood averages, which typically indicates a smaller, older home in need of modernization. It’s a key factor in the property’s affordability.
2. How does the living space compare to nearby homes?
At 848 sqft, it is moderately sized for Talbot Avenue and East Elmwood, ranking in the middle of the pack locally. It is, however, compact by overall Winnipeg standards.
3. What should I consider about the 1907 build date?
The age implies potential for charming original features but also necessitates a very diligent inspection for foundational integrity, wiring, plumbing, and insulation to understand the scope of needed updates.
4. Is the lot size a disadvantage?
The lot is smaller than most in the neighborhood. This limits outdoor space and potential additions but can translate to less yard work and a lower property tax assessment.
5. What is indicated by the unrenovated basement?
This presents both a project and an opportunity. While it will require investment to finish, it also offers the chance to add living space and value according to your own needs and specifications, without undoing previous renovations.