Property Overview
This 936 sqft one-storey home at 711 Nairn Avenue in East Elmwood presents a practical and grounded opportunity. Built in 1954, it sits on a notably generous 4,377 sqft lot for its street, offering more outdoor space than many neighbouring properties. The home features a renovated basement and a detached garage. Recent data shows it sold for $275,000 in September 2024, and its assessed value is modest compared to the Winnipeg city-wide average, positioning it as an affordable entry point. Within its immediate area, the house is consistently around average for size, value, and age, meaning it fits comfortably within the established neighbourhood fabric without standing out as either premium or underdeveloped.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance and potential. The renovated basement adds immediate functional living space, while the larger-than-average lot for the street presents valuable flexibility—whether for gardening, expansion, or simply more private outdoor room. Its recent sale suggests a market-ready condition. This home would suit first-time buyers seeking a solid starter in a stable neighbourhood, or practical investors looking for a manageable rental property. A thoughtful perspective is that its "average" metrics within East Elmwood are actually a strength, indicating a lower risk of over-improvement for the area and a predictable, steady neighbourhood character. It’s a home for those who value space over sheer square footage, seeing the lot as a long-term asset.
Frequently Asked Questions
1. How does the recent sale price compare to the assessed value?
The home sold for $275,000 in September 2024, which is significantly higher than its $24,500 assessed value. This is common, as assessed values for tax purposes often lag behind current market values.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A buyer should inquire about the finishes, permits, and whether it includes a separate entrance or legal suite potential.
3. Is the lot size a major advantage?
Yes, particularly on this street. The land area ranks in the top 21% compared to homes on Nairn Avenue, meaning you get more yard space than most direct neighbours, which is a less obvious but valuable perk.
4. What is the neighbourhood like?
East Elmwood is a mature, established neighbourhood. The home's metrics (size, value, age) are all around average for the area, indicating it's a typical, well-integrated property in a community of similar homes.
5. How does the living space compare to a typical Winnipeg home?
At 936 sqft, it is below the city-wide average for living area. This highlights that the property's value is more aligned with its neighbourhood and lot size rather than its interior square footage, appealing to those who prioritize outdoor space or a more efficient floor plan.