Section 1: Property Overview
This is a compact, one-storey home built in 1955 on a decent-sized lot in East Elmwood. Its primary appeal lies in its affordability and practicality. With 796 square feet of living space, it is notably smaller than many area homes, positioning it as a true starter home or a downsizing opportunity. The detached garage and a land area that is above average for East Elmwood are key assets, offering valuable outdoor space and storage potential not always found at this price point.
The property suits budget-conscious first-time buyers ready for a hands-on project, or investors looking for a straightforward rental property. Its lower assessed value translates to correspondingly lower property taxes, which is a significant, long-term financial benefit. A thoughtful perspective for the right buyer is the opportunity to define a smaller space efficiently, without the upkeep and costs associated with a larger, older home. It’s a property where the value is in the land and the potential, rather than in finished square footage.
Section 2: Frequently Asked Questions
1. Is the home in move-in condition?
Based on the assessed value and sale history, buyers should anticipate this property requires updates and likely some repairs. It represents a solid foundation for those planning renovations.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and likely current condition compared to the broader Winnipeg market. This directly results in lower annual property taxes.
3. How does the lot size compare to the neighbourhood?
At just under 5,000 sq. ft., the lot is actually above the East Elmwood area average. This is one of the property's strengths, providing more outdoor space than many nearby homes.
4. What does the sale history indicate?
The home last sold in 2017 for a price consistent with its current assessed value, suggesting a stable, modest value trend in line with its characteristics.
5. Who are the most comparable buyers or neighbours?
Given its size and value, immediate neighbours on Kent Road own similarly modest, older homes. The most direct market comparisons city-wide are other small, older homes with low assessed values, often sought by first-time buyers or investors.