Property Overview: 990 Herbert Avenue, Winnipeg
Key Characteristics & Appeal
This 936 sqft, one-storey home on a 4,761 sqft lot presents a practical opportunity in East Elmwood. Built in 1956, its core appeal lies in its generous lot size, which is well above average for its immediate street and offers significant outdoor space or future expansion potential in a mature neighborhood. The home features a detached garage and an unfinished basement, representing a straightforward canvas. The assessed value of $280k positions it as a higher-value property on its street and within East Elmwood, suggesting solid inherent value for the area, though it sits below the city-wide average for size and value.
Its strongest suit is for the value-conscious buyer or investor who prioritizes land over a turn-key living space. It would suit a first-time buyer comfortable with a home that may require gradual updates, or a practical investor looking for a property with a strong lot-to-building ratio in an established community. The recent sale history indicates steady appreciation, offering a grounded entry point without the premium of a fully renovated home.
Frequently Asked Questions
1. How does this home's value compare to others nearby?
The home's assessed value is in the top 30% for East Elmwood, meaning it is officially valued higher than most in the neighborhood. This often reflects its larger lot size and stable condition relative to immediate peers.
2. Is the lot size a significant feature?
Yes. The lot is in the top 12% on Herbert Avenue for size. This is a standout characteristic, offering more private outdoor space than most neighbors and providing flexibility for gardening, recreation, or future additions.
3. What should I know about the "unfinished basement"?
The listing notes the basement exists but is not renovated. Buyers should budget for professional inspection to assess its condition, potential for moisture, and costs to finish it for living space or storage.
4. The home sold recently in 2023. Does that matter?
The 2023 sale provides a very current market price point ($290k), which is useful for understanding recent buyer sentiment. The quick resale could indicate an investor flip or a change in owner circumstances, making a thorough review of any recent work done essential.
5. How does the living space feel for a family?
At 936 sqft, the main floor living area is slightly above average for the street but below the Winnipeg average. It is likely comfortable for a small family or couple, with the unfinished basement offering future space to grow into, subject to renovation.