Property Overview: 7 Cunnington Avenue, Elm Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Elm Park presents a distinct profile defined by its balance of space and value. Its key characteristic is a generous 5,530 sqft lot, which ranks well above average for the street and neighbourhood, offering significant outdoor potential. The living area, however, is notably compact at 700 sqft, placing it among the smallest in its immediate comparison groups. The home retains its original, unrenovated basement and features a detached garage. Built in 1934, its age is typical for the area.
The primary appeal lies in its land value and entry-level positioning. This is a property for a buyer who sees potential in the lot itself—whether for gardening, expansion, or future redevelopment—rather than in the existing footprint. It suits a practical first-time buyer, an investor looking for a land-value opportunity, or someone seeking a lower-cost entry into the established Elm Park neighbourhood without the premium for a turnkey home. It’s a canvas for customization, appealing to those willing to invest sweat equity or capital over time to realize the property's full potential.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (listed as $26.40k) is for municipal tax purposes. The recent sale price of $250k is a much more accurate reflection of current market value.
2. How does the small living area impact livability?
The 700 sqft main floor will require efficient use of space. It may suit a single person, a couple, or someone who views the home as a base camp, utilizing the basement and large yard for hobbies, storage, or future living space expansion.
3. What does "basement, not renovated" typically mean?
It indicates the basement is in original condition, likely with concrete walls and floors, and used for utilities and storage. It is not a finished living space but represents potential for future development, subject to local building codes.
4. The lot is large, but are there restrictions on what I can build?
Potentially. While the lot size is an asset, any significant expansion or new structure would require checking with the City of Winnipeg for zoning bylaws, heritage designations (if applicable in Elm Park), and setback requirements.
5. The home ranks low for size and value compared to neighbours. Is that a concern?
This reflects the home’s status as a more modest property on a street with larger homes. It can be an advantage, offering a lower property tax base and a unique opportunity to increase the home’s value through strategic renovations that better utilize the above-average lot.