Property Overview & Key Characteristics
This one-storey home at 1004 Talbot Avenue in Winnipeg's East Elmwood neighborhood presents a practical, no-frills opportunity. Its primary appeal lies in its efficient size and relative value within the local market. The 768 sqft living area is compact, placing it below the average for the street, neighborhood, and city, which suggests a focus on essential living spaces. A key feature is the renovated basement, adding functional space. The lot size of 4,412 sqft is notably above average for Talbot Avenue, offering valuable outdoor space for gardening, play, or expansion potential that many nearby properties lack.
The home’s assessed value is very modest and sits around the average for its immediate area, indicating a lower property tax burden. It last sold in July 2022 for $24,800. Built in 1955, it is newer than many homes on its street, which may imply fewer issues associated with very old infrastructure. The property does not have a garage or pool.
This home would suit first-time buyers seeking an affordable entry into homeownership, downsizers looking for a manageable single-level layout without a large mortgage, or investors interested in a straightforward rental property with a recent basement renovation. Its above-average lot size for the street is a less obvious advantage, offering a sense of space and future possibility that isn't reflected in the home's square footage.
Frequently Asked Questions
1. Is the living space too small?
At 768 sqft, the living area is indeed below average for the area. It is best suited for individuals, couples, or small families who prioritize efficient living and lower maintenance over spacious rooms. The renovated basement provides crucial additional functional space.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the details. A prospective buyer should inquire about the scope of work, the quality of finishes, whether it includes a legal secondary suite, and if proper permits were obtained.
3. How does the lack of a garage affect daily living?
There is no garage on the property. Buyers should plan for street parking and consider the implications for vehicle security and convenience during Winnipeg winters. The large lot may offer room to add a shed or future parking pad, subject to local bylaws.
4. Why is the assessed value so much lower than the city-wide average?
The assessed value of $22,800 is based on the property's characteristics and the local East Elmwood market. It is actually around average for Talbot Avenue. This is a reflection of the home's size, age, and neighborhood, resulting in proportionally lower property taxes compared to many city areas.
5. The home sold very recently in 2022. What does that indicate?
The previous sale was just two years ago at a price of $24,800. This relatively quick turnaround warrants asking about the seller's reason for moving and understanding what changes, if any, have been made since that purchase. It could indicate an investor flip, a life circumstance change, or a practical testing of the market.