Property Overview: 905 Beach Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1945, situated on a generous, roughly 4,667 sqft lot in East Elmwood. Its key feature is a recently renovated basement, adding functional living space to the 680 sqft main floor. The home includes a detached garage.
The primary appeal lies in its value and potential. With a very modest assessed value and recent sale price, it represents one of the most accessible entry points into Winnipeg’s housing market. The lot size is notably above average for the immediate area, offering valuable outdoor space or future expansion potential rare for a home in this price range. Its recent sale history suggests it may be suited for a quick, value-added renovation or as a long-term hold in a neighborhood where property values have shown significant increases in recent years.
This property would best suit a pragmatic first-time buyer, an investor looking for a rental property with a solid land base, or a hands-on individual willing to live in a home while gradually making improvements. It’s for those who prioritize land and location over move-in-ready finishes.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale prices?
Assessed values in Manitoba are primarily for municipal tax purposes and often lag behind rapid market changes. The significant jump in sale price from 2023 to 2024 indicates a hot market or substantial changes to the property, which the assessment hasn’t fully captured.
2. Is the living area too small?
At 680 sqft above grade, the living space is compact. However, the renovated basement effectively doubles the usable area, making it more functional than the main floor square footage alone suggests. It’s a lifestyle choice favoring efficient use of space.
3. What does the large lot mean for me?
The lot is a standout feature. It provides ample yard space and, importantly, presents a long-term opportunity. For future owners, it could allow for additions like a larger garage, a garden suite, or a home expansion, subject to zoning.
4. How does this home compare to others on Beach Avenue?
The data shows this home is older and smaller than most on its street. However, its lot size is competitive, and its value metrics are around the street average. It’s a more modest offering on a street with a mix of property types and sizes.
5. Are there any obvious concerns with a home from 1945?
While the renovated basement is a plus, the core structure is 81 years old. A thorough inspection is essential to understand the condition of major systems (roof, wiring, plumbing, foundation) that may not have been updated. The charm of an older home comes with the responsibility of maintaining its aging components.