Property Overview: 826 Beach Avenue, East Elmwood, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1949, situated on a standard-sized lot in East Elmwood. Its key characteristic is its modest scale, with 735 sqft of living space—significantly smaller than area averages—and a recently renovated basement. There is no garage. The home’s appeal lies in its role as an affordable entry point into the Winnipeg market. It represents a straightforward, lower-maintenance property with updated fundamentals (the basement), suited for those who prioritize function and cost over space.
This property would best suit a first-time buyer, an investor looking for a rental property, or someone seeking to downsize with minimal upkeep. Its below-average size and assessed value indicate it is not a home for growing families or those needing ample room, but rather a practical solution for budget-conscious individuals. A thoughtful perspective is that this home offers the chance to live in a established neighbourhood without a large mortgage, potentially freeing up finances for other life priorities. The renovated basement adds flexible living or storage space, which is a valuable asset in a smaller home.
Section 2: Frequently Asked Questions
1. Is the price reflective of the home’s condition?
The assessed value and recent sale price are significantly below city and area averages, which typically correlates with the home’s smaller size and age. The renovated basement is a noted positive, but the overall value is anchored by its modest proportions.
2. What is the neighbourhood like?
East Elmwood is a mature, established neighbourhood. The property sits on a street with homes of a similar vintage, offering a settled community feel rather than a newly developed one.
3. How does the living space compare to nearby homes?
At 735 sqft, the living area is notably smaller than most comparable homes in the immediate area, which average around 1,050 sqft. This confirms the home’s compact, efficient layout.
4. What are the expansion possibilities?
The lot size is approximately 4,175 sqft, which is around average for the street. This could allow for future additions like an extension or a garage, subject to municipal zoning and bylaws.
5. Is this a good investment property?
Given its low price point and renovated basement, it could be attractive as a rental investment. However, its specific performance would depend on local rental demand, operating costs, and your investment strategy.