Property Overview
This one-and-a-half storey home at 897 Beach Avenue in East Elmwood presents a practical and affordable entry point into Winnipeg’s housing market. Built in 1950, it features a renovated basement, a detached garage, and sits on a standard 4,129 sqft lot. With just over 1,000 sqft of living space, its size is typical for the immediate area but is more compact compared to the citywide average. The home’s assessed value is notably modest, positioning it well below the city average, which is reflected in its recent sale price. Its appeal lies in its relative affordability within a stable neighbourhood, offering a renovated space without the premium of a larger or newer build. This property would suit first-time buyers, downsizers, or investors looking for a straightforward, lower-maintenance home where value is derived more from function and location than from size or luxury finishes. A thoughtful perspective: for the right buyer, its "below average" citywide metrics are its greatest asset, providing an opportunity to enter the market without overextending financially, while still being in line with the character and scale of its specific street and community.
Frequently Asked Questions
1. How does the home’s size compare to others in the area?
At 1,001 sqft, the living area is very close to the average for both Beach Avenue and the wider East Elmwood neighbourhood, making it a typical-sized home for this specific community.
2. Why is the assessed value significantly lower than the citywide average?
The assessed value of approximately $25k is based on municipal valuation formulas and is in line with similar homes on the street and in East Elmwood. The dramatic difference from the citywide average (around $390k) highlights that this is an area of more affordable, modestly-sized properties.
3. What does having a "renovated basement" typically mean for a home of this era?
While specifics aren’t provided, in a 1950s one-and-a-half storey, a renovated basement often adds crucial functional living space, potentially including a family room, laundry, or storage, which enhances the usability of the home’s overall footprint.
4. Is the lot size a constraint?
The lot is slightly smaller than the average on Beach Avenue but is standard for East Elmwood. It provides adequate outdoor space for a garden or patio without the extensive maintenance of a larger yard, which can be a benefit for those seeking simplicity.
5. Based on recent sales, is this a stable area for property values?
The home itself sold in late 2020, and the provided data shows nearby and similar-valued properties across the city. This suggests the area maintains a consistent, stable value proposition rather than experiencing volatile swings, which can be appealing for long-term security.