Property Overview
150 Clyde Road is a compact, one-storey home in Winnipeg's East Elmwood neighborhood. Built in 1961, its primary appeal lies in its affordability and efficient use of space, featuring a renovated basement that adds functional living area to its modest 720 sqft main floor. The home sits on a smaller, manageable lot of just under 3,000 sqft. Its most recent sale in mid-2022 was significantly higher than its current assessed value, suggesting a market that sees potential beyond the official valuation. This property suits first-time buyers, downsizers, or investors looking for an entry point into the market with lower property taxes. It’s a practical choice for those who prioritize financial accessibility over size, and who see value in a home that has already seen some updates.
Key Considerations & FAQs
1. Is the house too small?
At 720 sqft, the living area is notably smaller than most homes on its street, in East Elmwood, and across Winnipeg. However, the renovated basement provides additional finished space, making it a more viable option for a small household or someone comfortable with compact, efficient living.
2. Why is the sale price so different from the assessed value?
The home sold for $250,000 in June 2022, while its assessed value is approximately $21,900. This large discrepancy is common and reflects different valuation methods and timelines; assessed value is for municipal tax purposes, while sale price is determined by the current market. Buyers should budget based on recent sale prices, not the tax assessment.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A prospective buyer should clarify whether it’s a full legal suite, a recreational space, or simply finished rooms, and should verify if any permits were obtained for the work.
4. Who would this property not suit?
It would likely not suit buyers needing multiple bedrooms, dedicated home office space, extensive outdoor areas, or off-street parking (as there is no garage). Families or those who frequently entertain guests may find the living space limiting.
5. What is the long-term potential here?
The home’s value proposition is its lot in an established neighborhood. For the right buyer, it could be a long-term, low-cost holding with manageable taxes, or a candidate for future expansion (subject to zoning and feasibility studies), given that the structure itself is smaller than neighborhood averages.