Property Overview: 775 Talbot Avenue, East Elmwood
Key Characteristics & Appeal
This bi-level home at 775 Talbot Avenue presents a compelling mix of modern convenience within a mature Winnipeg neighbourhood. Its standout feature is its age: built in 2016, it is a notably newer construction, ranking in the top 2% of homes on its street and top 1% in East Elmwood. This translates to less immediate concern for major system replacements and potentially higher energy efficiency compared to the area's predominantly mid-century housing stock.
With 992 sqft of living space, the home offers a practical layout that is squarely average for the immediate area but more compact city-wide. It sits on a modest 3,083 sqft lot, which means lower maintenance but less private outdoor space. The property does not have a garage or a pool. A key point of analysis is its assessed value of $29,100, which is above average for both the street and the neighbourhood, suggesting official valuation sees merit in its newer build. The appeal lies in acquiring a relatively turn-key, modern home in an established community at a potentially accessible price point, trading off larger lot and living space for the benefits of newer construction.
This property would suit first-time buyers or downsizers seeking a low-maintenance, modern home without leaving a well-rooted neighbourhood. It’s also a practical choice for value-conscious buyers who prioritize the condition and efficiency of the building itself over expansive square footage or yard size.
Frequently Asked Questions
1. Why is the assessed value above average for the area if the lot and living space are smaller?
The primary driver is likely the home's very recent build year (2016). Assessed value factors in the condition and effective age of the structure, so the modern construction offsets the metrics for lot and living area size.
2. What does "bi-level" mean for this home's layout?
A bi-level typically features an entryway set between two split levels. You likely walk into a short foyer with stairs leading up to the main living areas (kitchen, living room, bedrooms) and stairs leading down to a lower-level space, which includes the basement.
3. The last sale was in 2018 for $26,500. Is the current assessed value realistic?
While past sale prices provide context, they reflect the market conditions of that time. The current assessed value is an estimate for taxation purposes and a starting point for valuation. A professional market appraisal or comparative market analysis (CMA) from a realtor is necessary to determine its current market value.
4. What are the pros and cons of having a much newer home in an older neighbourhood?
Pros include newer infrastructure (plumbing, wiring, roof) and likely better insulation. A less obvious con could be a stylistic mismatch or differing architectural character, and the property may not have matured landscaping like older homes.
5. Is the lack of a garage a significant drawback?
This depends on lifestyle and need. For some, it’s a major inconvenience, especially in Winnipeg winters. For others, it’s an acceptable trade-off for a lower-maintenance property, and street parking may be sufficient. It’s worth investigating on-street parking regulations and availability on Talbot Avenue.