Section 1: Property Overview
This one-storey home on Talbot Avenue in East Elmwood is a practical and affordable entry point into the Winnipeg market. Its key appeal lies in its balance of a renovated basement, a detached garage, and a decently sized lot, all at a value-conscious price point reflected in its below-city-average assessed value.
The home is compact at 792 sq ft, which is smaller than most in the area, suggesting a efficient layout suited to individuals, couples, or small families. The renovated basement adds crucial functional space. A thoughtful perspective is that while the living space is modest, the lot size is quite typical for the immediate neighborhood, offering standard outdoor space relative to nearby homes. The 1955 build date is actually newer than many on its street, potentially meaning fewer concerns with the very oldest building systems.
This property would best suit first-time buyers, downsizers, or practical investors looking for a low-maintenance footprint. Its value is in its essentials—it’s a straightforward home in an established neighborhood without premium frills, ideal for those whose priority is financial accessibility and a solid foundation to build upon.
Section 2: Frequently Asked Questions
1. Is the house particularly small?
Yes. At 792 sq ft of living area, it is smaller than the average home in East Elmwood and significantly smaller than the Winnipeg average. This indicates a efficient, likely easier-to-maintain layout.
2. Why is the assessed value so much lower than the city average?
The assessed value is based on municipal valuation for tax purposes and reflects the home’s modest size, age, and the general market values in its area. It is actually around average for Talbot Avenue itself, indicating it is priced in line with its immediate surroundings.
3. What does "renovated basement" mean?
The listing confirms the basement has been renovated, but the specific scope, quality, and permits should be verified by a buyer's inspection. It adds valuable functional space to the smaller main floor.
4. How does the lot size compare?
The lot is just over 4,000 sq ft, which is standard for Talbot Avenue and East Elmwood. While below the city-wide average (which includes newer suburbs with larger lots), it is consistent with the neighborhood character.
5. The home sold in 2016 for $20,500. What does that indicate?
That previous sale price is a historical data point and reflects the market conditions and the property's state at that time. It does not reflect current market value, which is influenced by today’s market, the renovated basement, and nearly a decade of change.