Property Overview
This one-and-a-half storey home, built in 1914, is a classic Winnipeg character property situated on a modest lot in East Elmwood. Its key appeal lies in being an affordable entry point into the housing market with a functional layout and a detached garage. At 952 square feet, the living space is practical for a small household. The home presents a straightforward opportunity: it is a largely untouched, century-old property that has not undergone modern renovations, offering a buyer the chance to tailor updates to their own taste and budget over time. Its significantly below-average assessed value, both locally and city-wide, is its most defining financial characteristic.
This property would suit a first-time buyer comfortable with a project, an investor looking for a rental property with a stable foundation, or a downsizer seeking a manageable home without the premium of a modern renovation. It’s a home for those who value potential and location over move-in-ready finishes.
Frequently Asked Questions
What does “one-and-a-half storey” mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped roof lines, creating cozy bedrooms with potentially reduced ceiling height in some areas. It's a charming, space-efficient design common to the era.
Is the basement finished?
No, the basement is noted as being unfinished and not renovated. This should be factored into plans, as it represents both usable storage or utility space and a potential area for future development.
How does the lot size impact the property?
The lot is smaller than most in the immediate area and city-wide. This means lower maintenance, which can be a benefit, but it also limits potential for large additions or extensive outdoor living spaces.
The assessed value seems very low. What does that indicate?
The assessed value is for municipal tax purposes and is not market value. A consistently low assessment relative to nearby sales can suggest the property is undervalued by the city assessor, often due to a lack of recent major updates, which may result in relatively lower property taxes.
What should I consider about the home’s age?
Built in 1914, the home will have character but may also have older building materials and systems. A thorough inspection is essential to understand the condition of the foundation, wiring, plumbing, and roof, and to plan for any necessary updates or repairs.