288 Emerson Avenue

Property Overview: 288 Emerson Avenue, Winnipeg

Key Characteristics & Appeal

This home at 288 Emerson Avenue in River East is a classic, modest-sized bungalow built in 1958, sitting on a generously sized lot of just over 6,100 square feet. Its key characteristics are defined by clear contrasts: the living space of 816 sqft is notably compact compared to most homes on the street and in Winnipeg overall, while the lot size is above the citywide average. The assessed value of $284k is significantly below local averages, reflecting its smaller footprint and older vintage.

The primary appeal lies in its value proposition and potential. It represents a more accessible entry point into the Winnipeg market, particularly for a homeowner willing to grow into the property over time. The large lot is a standout asset, offering ample outdoor space and future expansion possibilities that many newer homes in this price range simply cannot match. This property would best suit first-time buyers, downsizers seeking minimal indoor maintenance, or value-oriented investors looking for a property with a strong land-to-structure ratio. It’s a home that prioritizes land over living area, appealing to those who see long-term potential or value in outdoor space.

Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbors?
The assessed value is primarily lower due to the home's significantly smaller living area and its older construction date compared to many homes on the street. Value is driven by the land and the building; here, the building's modest size brings the total assessment down.

2. Is the small living area a major drawback?
It depends on your needs. For a single person, couple, or downsizer, 816 sqft can be efficient and manageable. For a growing family, it may feel cramped. The trade-off is the larger lot, which provides valuable outdoor space not found with many similarly priced homes.

3. What does the lot size actually offer me?
A lot of this size (over 6,100 sqft) in the city provides excellent space for gardening, recreation, and privacy. It also presents a tangible future opportunity: the possibility of an addition, a garage, or a garden suite (subject to zoning and permits), which could offset the smaller interior.

4. The home sold recently in 2023. What does that indicate?
The sale within the last two years suggests the market confirmed its value as an entry-level property. Reviewing the exact sold price (available by request) would show how the market price compared to its current assessment, indicating recent market activity and stability.

5. How should I interpret the "below average" rankings for this property?
These rankings are useful context, not a verdict. They quantitatively confirm that this is a smaller, older, and more value-priced home compared to averages in the area. This is precisely what creates its affordability. The key is to see if this specific combination of characteristics—a smaller home on a larger lot—aligns with your lifestyle and goals.