Property Overview
56 Stapleton Street is a classic one-storey home in East Elmwood, built in 1957. Its key appeal lies in its balance of a renovated basement and a manageable 793 sqft of living space, situated on a standard city lot. The home presents as a practical, no-fuss property. Its assessed value is notably modest compared to the Winnipeg city-wide average, suggesting an accessible entry point into the market.
This home would suit first-time buyers or pragmatic investors looking for a straightforward, lower-maintenance property. Its size and layout are well-matched for a small household. A thoughtful perspective is that while the living area is compact, the renovated basement offers valuable flexible space for storage, a home office, or recreation, effectively extending the home's utility beyond the main floor square footage. The data shows the home is very typical for its immediate street and neighbourhood in terms of size, age, and value, offering a sense of stability and predictability rather than standing out as an outlier.
Frequently Asked Questions
Is the lot size a concern?
The land area of 4,398 sqft is the smallest on Stapleton Street according to the rankings. However, it is very close to the average lot size for the broader East Elmwood neighbourhood, so it is consistent with the area's typical footprint.
How does the assessed value compare to the last sale price?
The home was last sold in July 2022 for $29,500. The current assessed value is $27,100. This difference is not unusual and can be influenced by market timing, specific sale conditions, and assessment methodologies.
What does "renovated basement" typically mean for a home of this age?
While specifics should be verified, in a 1957 home this often indicates updated essentials like flooring, lighting, and drywall. It's important to confirm the quality of the renovation, any moisture-proofing measures, and whether permits were obtained for the work.
Is the living space too small?
At 793 sqft, the living area is slightly above average for Stapleton Street itself but below the average for both East Elmwood and Winnipeg. This underscores the home's efficient scale. Buyers should consider if the layout and the additional basement space meet their needs.
How does this home rank for its age?
Built in 1957, it is newer than many homes in East Elmwood, ranking in the top 28% for the neighbourhood. This can be an advantage, potentially meaning fewer major age-related updates are immediately due compared to older peers in the area.