Property Summary: 318 Milford Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in East Elmwood, built in 1958. With 1,088 sqft of living space and a recently renovated basement, it offers efficient, manageable living. The lot is a practical size at just under 5,000 sqft and includes a detached garage.
Its primary appeal lies in its position as an affordable, low-maintenance entry point into the Winnipeg market, particularly within its immediate neighborhood. While the home is below average in size and value for Milford Street itself, it stands above average for the broader East Elmwood area in terms of its assessed value. This suggests it represents a solid, value-conscious option within a community context. The renovated basement adds functional living space without the need for immediate upgrades.
This property would suit first-time buyers or downsizers seeking a straightforward home without complex upkeep. It’s a practical choice for someone prioritizing financial accessibility and a renovated foundation over sheer size or a premium lot. A thoughtful perspective is that this home offers the chance to live on a established street, potentially with more expensive neighboring properties, without the associated price tag.
Section 2: Frequently Asked Questions
1. Is this a small house?
Yes, at 1,088 sqft, it is notably smaller than the average home on Milford Street, but it is very close to the average size for East Elmwood as a whole. The renovated basement provides additional usable space.
2. How does the assessed value compare?
The assessed value is above average for the East Elmwood neighborhood, but below average for Milford Street specifically. This indicates the property is a higher-value home in the wider area but sits on a street where properties are generally valued more highly.
3. What does the lot size mean for me?
At 4,869 sqft, the lot is manageable for maintenance. It is slightly smaller than others on the street but typical for the area. It provides adequate outdoor space for gardening or recreation without being overwhelming to care for.
4. The home was built in 1958. What should I consider?
While the basement has been renovated, the core structure is from the late 1950s. A standard home inspection is recommended to review the condition of major aging components like the roof, plumbing, and electrical systems.
5. Who are the most likely neighbors or buyers on this street?
Given that this home is one of the more modest properties on Milford Street, neighbors may own larger, higher-value homes. The street itself appears to be a stable, established part of the community.