Property Overview
797 Talbot Avenue is a compact, one-storey home in Winnipeg's East Elmwood neighbourhood. Built in 1949, its primary appeal lies in its generous, above-average lot size of over 5,200 sqft, offering significant outdoor space that is rare for the area. The home itself, at 743 sqft with a renovated basement, is modest in size compared to local and city-wide averages. This creates a distinct value proposition: it's a property where the land is the standout feature, not the living space. The detached garage adds practical utility. It last sold in June 2020 for $202,200, and its assessed value is in line with similar homes on its street.
Key Characteristics & Ideal Buyer
The core characteristic of this property is the balance—or contrast—between a smaller, older home and a sizable, valuable lot. Its appeal is grounded in potential and practicality. The renovated basement adds functional living space, while the large yard presents opportunities for gardening, expansion, or future development, subject to zoning. The home’s assessed value is average for East Elmwood, suggesting it is priced accessibly within the community.
This home would best suit a first-time buyer, a downsizer, or a hands-on individual who prioritizes outdoor space over interior square footage. It’s for someone who sees the value in the land itself and is comfortable with a cozy living arrangement, possibly viewing the home as a solid foundation to be personalized or improved over time. It is less suited for those seeking immediate move-in condition with ample room for a growing family.
Frequently Asked Questions
1. Is the large lot size a major advantage?
Yes, especially in this neighbourhood. The lot is significantly larger than most on Talbot Avenue and in East Elmwood, offering more privacy, yard space, and future potential than is typical for homes in this price range.
2. How does the smaller living area impact daily life?
With 743 sqft above grade, the floor plan will be compact. The renovated basement provides crucial additional space, but the main living area requires efficient use of space. It feels more like a cabin or cottage scale than a standard family home.
3. What does the "around average" assessed value indicate?
It suggests the property is not overvalued relative to its immediate surroundings. The municipal assessment reflects a value that aligns with the street and neighbourhood, indicating a stable, non-speculative price point for the area.
4. Given the age of the home, what should I be concerned about?
A home built in 1949 will likely have older building systems (like plumbing, electrical, and the roof). While the basement is renovated, a thorough inspection is essential to understand the condition of the core structure and major components.
5. Could this be a good investment property?
The combination of a lower purchase point (inferred from the assessed value and past sale price) and a large lot in a stable neighbourhood could make it a candidate for a long-term hold or future redevelopment. However, its current small size may limit rental appeal compared to larger units, so the investment case leans more toward land value appreciation.