Property Overview: 787 Beach Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 787 Beach Avenue is a classic one-and-three-quarter storey house in East Elmwood, built in 1918. With 992 square feet of living space and a full, unrenovated basement, it sits on a 3,339 sqft lot. Its key appeal lies in its position as a modest, entry-level property in a stable neighbourhood. The home's assessed value is notably low, which can translate to lower property taxes—a significant, often overlooked advantage for budget-conscious owners.
The property suits first-time buyers, investors, or handy individuals looking for an affordable footprint. Its appeal is practical rather than luxurious: it offers a chance to get into the market at a lower price point, with the potential to add value through updates over time. While its size, age, and lot are below the city-wide average, they are more in line with the local East Elmwood context, presenting a straightforward, no-frills homeownership opportunity. A thoughtful perspective for a buyer is to see the older build date not just as a challenge, but as a chance to own a character home from Winnipeg’s earlier development era, with the understanding that maintenance and modernization will be part of the journey.
Section 2: Frequently Asked Questions
1. How does the low assessed value affect me?
A lower assessed value typically results in lower municipal property taxes, which reduces your ongoing carrying costs. It’s important to note that assessed value is not the same as market value; the home sold for $210,000 in 2021.
2. What does "unrenovated basement" imply?
This generally means the basement is in original or functional condition, but not modernized. It offers usable space for storage or utilities, but any finished living area or updated amenities would be a project for the buyer.
3. Is the lot size a drawback?
At 3,339 sqft, the lot is smaller than many in the city but is not uncommon for the East Elmwood area. It provides manageable outdoor space with less maintenance, which can be a positive for those not wanting extensive yard work.
4. The home is older—what should I consider?
Built in 1918, the house will likely require a diligent inspection for its foundational structure, plumbing, electrical systems, and insulation. Its age also means it predates modern building standards, so budgeting for updates or repairs is wise.
5. How does this property compare to others nearby?
Based on the provided data, this home has a smaller living area and lot than some immediate neighbours on Beach Avenue, and its assessed value is also on the lower end for the street. This reinforces its position as a more affordable option within the same block.