Property Overview & Key Characteristics
This 1947 one-and-a-half storey home at 1886 Elgin Avenue W in Brooklands presents a straightforward opportunity centered on its land and location. Its primary appeal lies in its above-average lot size for the area—over 5,100 square feet—which ranks in the top 11% for Elgin Avenue. The house itself is modest, with 1,015 sqft of living space, and features an unrenovated basement and no garage. It last sold in 2020 for $160k, and its current assessed value is notably low at $20,900, reflecting its condition and presenting a potentially low property tax burden.
The property is best suited for a specific buyer: those looking for a value-entry point into the Winnipeg market, investors or builders interested in the land potential, or handy individuals seeking a basic home they can customize over time without the premium of a turn-key property. Its above-average lot size in a mature neighbourhood offers more outdoor space or future development options than many nearby properties, which is its standout feature.
Frequently Asked Questions
1. What does "above average" lot size really mean for this property?
It means the 5,196 sqft lot is larger than 89% of comparable lots in the Brooklands neighbourhood. This provides more yard space and could offer more flexibility for additions, landscaping, or future development compared to standard lots in the area.
2. Why is the assessed value so much lower than the last sale price?
The assessed value of $20,90k is for taxation purposes and is typically based on mass appraisal techniques and market trends. The sale price of $160k in 2020 reflects what a buyer was willing to pay at that time. The large gap suggests the municipality views the property's taxable value as very low, which can be an advantage for ongoing holding costs.
3. Is the house in livable condition?
The listing notes the basement is "not renovated," which suggests the home is functional but dated. Buyers should budget for updates and plan for a thorough inspection to understand the full scope of work needed, as the property appeals largely as a canvas for improvement.
4. What are the implications of having no garage?
This is common for homes of this era in the area. It means lower maintenance but requires on-street parking. For a buyer planning a renovation or rebuild, the spacious lot could accommodate adding a garage in the future, subject to local bylaws.
5. How does this property compare to others in Winnipeg overall?
City-wide, this home is smaller and older than the Winnipeg average. Its strengths are hyper-local: it offers a larger-than-typical lot for Brooklands at a price point that is accessible. It’s not a city-wide standout, but it represents a specific opportunity within its immediate neighbourhood context.