Property Overview: 714 Beach Avenue, East Elmwood
Key Characteristics & Appeal
This is a modest, historic one-and-a-half storey home built in 1911, situated on a standard city lot in East Elmwood. Its key characteristics are defined by its age, scale, and value proposition. With 720 square feet of living space and an unrenovated basement, it is notably smaller than most homes in its immediate area, street, and across Winnipeg. The detached garage and a land area just under 4,000 sqft are practical features for the neighbourhood.
The primary appeal lies in its accessibility. With a very low assessed value and a recent 2022 sale price of $14,200, it represents one of the most entry-level priced detached properties available. This isn't a move-in-ready showhome; its appeal is for the value-conscious buyer or investor who sees potential in the structure and location, not in finished perfection. It would suit a hands-on buyer looking for a foundational investment—perhaps a first-time homeowner willing to renovate over time, an investor seeking a rental property with a low acquisition cost, or someone interested in the character of a century-old home without the premium price tag of a fully restored property. A less obvious perspective is that its established age and settled nature could mean fewer surprises than newer, quickly built homes, and its smaller size translates to lower utility costs and minimal upkeep.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and condition relative to the broader market. It is priced as a value-entry property, not as a comparison to modern or renovated homes.
2. What does "unrenovated basement" typically imply?
This usually means the basement is in original or utilitarian condition, likely with concrete floors, basic walls, and older mechanical systems. It presents functional space but will require investment to modernize or finish.
3. Given its age, what should I be most concerned about during an inspection?
For a home built in 1911, priority inspection areas should include the foundation, roof, electrical wiring, plumbing, and insulation. Understanding the state of these core systems is more critical than cosmetic updates.
4. Is the land size sufficient for an addition or expansion?
At 3,856 sqft, the lot is standard for the area but smaller than the city average. Any expansion would need to comply with local zoning bylaws regarding setbacks and lot coverage, so feasibility should be verified with the city.
5. How does the 2022 sale price relate to its current value?
The 2022 sale price demonstrates its position as an ultra-affordable property. Current value will be influenced by market changes, any improvements made since then, and its condition relative to similar sales in East Elmwood.