Property Overview: 981 Talbot Avenue, East Elmwood, Winnipeg
Key Characteristics & Buyer Appeal
This is a modest, one-and-a-half storey home built in 1947, offering 975 square feet of living space on a standard city lot of approximately 3,850 square feet. Its key updated feature is a renovated basement, adding functional living space. The home lacks a garage or pool. Its primary appeal lies in its position as a solid, entry-level property in a mature neighbourhood. The renovated basement is a practical advantage, offering immediate utility without the need for a major project.
The home suits first-time buyers or practical investors looking for an affordable, no-frills footprint in Winnipeg. It represents a grounded opportunity to enter the market in a stable community like East Elmwood. A less obvious perspective is its relative value within its immediate area: while its size and assessed value are below the citywide averages, they are much more aligned with—or even slightly above—the averages for Talbot Avenue itself. This suggests it's a characteristic home for the specific street, potentially offering a more predictable and stable investment within its micro-market compared to more variable areas.
Frequently Asked Questions
1. How does this home compare to others in the area?
Within the East Elmwood neighbourhood and specifically on Talbot Avenue, this home is very typical. Its living area, lot size, and assessed value all rank around the average for the street, meaning it is a representative property for this specific location.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but the specific scope, quality, and permits for the work are not detailed. This is a key point for buyers to investigate further during a viewing or through their agent.
3. Is there potential to add a garage in the future?
The lot is a standard city size. While possible, adding a detached garage would require checking current zoning bylaws and would consume a significant portion of the yard space. The lack of a garage is reflected in the home's value and market position.
4. The citywide assessed value seems very low. Why is that?
The "Assessed Value" metric shown (e.g., $22.50k) is not the market value or sale price. It is a municipal assessment figure used for calculating property taxes. The home last sold in 2017 for $19.50k, but current market value would be determined by recent local sales and market conditions.
5. What are the implications of the home's age?
Built in 1947, the home is older than most in Winnipeg. While the basement has been updated, buyers should be prepared for potential age-related maintenance or updates needed in other original systems, such as plumbing, electrical, or the roof. Its vintage also contributes to its classic one-and-a-half storey layout and character.