Property Overview: 814 Beach Avenue, East Elmwood
Key Characteristics & Appeal
This is a modest, well-situated one-and-a-half storey home built in 1949, offering a practical footprint of 930 square feet on a standard 4,133 sqft lot. Its key feature is a renovated basement, adding valuable finished living space, and it includes a detached garage. The home’s primary appeal lies in its position as a solid, no-frills property in a stable neighbourhood. It represents an entry point into the Winnipeg market, particularly for those who value a functional layout and are willing to take on a home with character from the post-war era.
The data suggests it is very much an "average" home for its immediate area in East Elmwood, neither standing out nor lagging significantly behind its direct peers in terms of size, lot, or assessed value. This can be appealing for a buyer seeking predictability and neighbourhood consistency rather than a standout luxury feature. It would suit first-time homebuyers, practical downsizers, or investors looking for a straightforward rental property. A thoughtful perspective is that its "averageness" in the local context could mean less competition and more room for value-adding improvements compared to homes that are already fully updated.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the assessed value relate to the expected sale price?
The home last sold for $23.40k in late 2020, closely aligned with its current assessed value of $23.70k. In Winnipeg, sale prices often differ from assessed values, which are used for tax purposes. It’s essential to review recent comparable sales in East Elmwood for a true market price.
3. What are the implications of the home being "below average" in size city-wide?
While the living area is below the Winnipeg average, it is typical for East Elmwood. This indicates you are purchasing a home sized for the neighbourhood's character, which often translates to lower utility costs and property taxes compared to larger city averages.
4. What should I consider about a home built in 1949?
While the core structure is likely solid, prospective buyers should pay special attention to the age and condition of major systems (like plumbing, electrical, and the roof) during an inspection. The renovated basement is a plus, but the work should be checked for proper permits and quality.
5. How does the detached garage add value?
A detached garage provides secure storage and parking, a significant asset in a neighbourhood of older homes that may only have driveways or street parking. It also offers flexibility for use as a workshop or additional storage space separate from the house.