Property Overview
This 760 sqft, one-storey home on Talbot Avenue in East Elmwood presents a specific and practical opportunity. Built in 1907, it is notably older than most area homes, offering historic character but also implying a need for diligent maintenance. Its key characteristic is a generous 4,709 sqft lot, which is larger than average for the street and neighbourhood, providing valuable outdoor space and potential. The living area is compact, but the home features a renovated basement, adding functional space. With a modest assessed value and no garage, it sits as an affordable entry point into the Winnipeg market.
Its primary appeal lies in its land size and price point, making it a candidate for value-driven buyers willing to trade interior square footage for yard space. It would best suit a first-time buyer, an investor looking for a land-hold, or a hands-on owner comfortable with the upkeep of an older home and interested in the potential for expansion or gardening. A less obvious perspective is its appeal to those seeking a simpler, lower-maintenance footprint without sacrificing outdoor privacy, which can be rare in this price range.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing notes a renovated basement, which adds liveable space to the 760 sqft main floor. Prospective buyers should seek specific details on the renovation's scope, permits, moisture control, and ceiling height to understand its true functionality and value.
2. How does the age of the home (1907) affect insurance and maintenance?
At over 115 years old, the home's systems (plumbing, electrical, foundation) may not be original but will require careful inspection. Some insurers may have specific requirements or premiums for homes of this era, so obtaining insurance quotes during the conditional period is advisable.
3. The lot is large, but are there any restrictions on its use?
While the sizable lot is a major asset, buyers should verify zoning bylaws with the city to understand what is permitted (e.g., building an addition, garage, shed, or potential future subdivision) before making plans.
4. How does the assessed value relate to the expected market price?
The assessed value for taxation purposes ($22,500) is typically lower than market value. The sale history shows a previous sale in 2017 for $20,300. The market price will be influenced by current conditions, the home's updated features, and its unique lot size.
5. There's no garage; what are the parking options?
The property has no garage. Buyers should confirm the availability and rules for on-street parking and assess the feasibility and cost of adding a driveway or parking pad to the large lot, subject to local regulations.