Property Overview: 681 Elizabeth Road, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 681 Elizabeth Road is a practical, no-frills property in Winnipeg's Maginot neighbourhood. Built in 1963, its 1,044 sqft living space is very close to the average for the immediate area, offering a standard layout for its era. The lot size of 2,998 sqft is notably more compact than many neighbouring properties, which translates to lower outdoor maintenance.
The primary appeal lies in its position as an accessible entry point into the market. Its assessed value is significantly below average for the street, neighbourhood, and city, suggesting a potentially lower purchase price and property tax burden. This creates an opportunity for value-conscious buyers.
It would best suit a first-time homebuyer, an investor looking for a rental property, or someone seeking a straightforward, low-maintenance footprint. Its compact lot and average-sized home represent a manageable commitment. A less obvious perspective is that a below-average assessment in an otherwise average area can sometimes indicate a home ripe for cosmetic updates, allowing a buyer to add value through renovations while still benefiting from the established neighbourhood baseline.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
A significantly lower assessment can be due to several factors, including the home's smaller lot size, its specific condition, or features that haven't been updated since it was built. It’s a key point to discuss with a real estate agent and consider during a viewing.
2. What does the compact lot size mean for me?
The lot is smaller than most on the street and in Maginot. This means less yard work and lower exterior maintenance costs, but also less private outdoor space for gardening or recreation compared to neighbours.
3. How can I find out the exact past sale price?
The listed sale history shows a range. The property detail page provides an option to request the exact sold price via email from the site administrators, who provide this data manually.
4. Are the home's systems (roof, furnace) original from 1963?
While the year built is known, the age and condition of major components are not listed here. This is a critical question for a home inspector, as original systems would be at or beyond their typical lifespan.
5. How does this home compare to others on Elizabeth Road?
The data shows this home is very average in living area and age for the street, but ranks in the bottom 15% for lot size and the bottom 3% for assessed value. This indicates you’re getting a typically-sized house on a smaller parcel, which is a major driver of its lower valuation.