Property Overview: 853 Talbot Avenue, East Elmwood, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in East Elmwood presents a practical and value-oriented opportunity. Its key characteristic is a renovated basement, adding functional living space to the 808 sqft main floor. The property includes a detached garage and sits on a standard city lot of just under 4,000 sqft.
The primary appeal lies in its strong value proposition within its immediate area. The assessed value is notably above average for both Talbot Avenue and the wider East Elmwood neighbourhood, suggesting the property is in good condition relative to its peers, potentially due to updates like the basement renovation. However, its living space is modest compared to area averages, indicating an efficient, lower-maintenance footprint.
This home would suit first-time buyers seeking an entry point into homeownership with some modernized finishes, or practical downsizers looking for a manageable single-level layout with a finished basement for extra room. It’s for buyers who prioritize neighbourhood value and functional updates over sheer size.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the likely asking or sale price?
While the assessed value ($28,700) is strong for the street and neighbourhood, it is important to note that citywide averages are much higher. This indicates assessed values in East Elmwood are generally lower. The sale price will be determined by the current market and recent comparable sales, not the assessment.
2. Is the living space too small?
At 808 sqft above grade, the main floor is compact. The renovated basement significantly adds to the usable living area, making the overall footprint more functional. Buyers should consider if the layout meets their needs for daily living.
3. What are the implications of the home’s age (built in 1947)?
The age is typical for the area. While the basement has been renovated, a pre-purchase inspection is highly recommended to assess the condition of core systems like plumbing, electrical, and the foundation, which are common update points for homes of this era.
4. What is the neighbourhood like?
East Elmwood is an established, mature neighbourhood. The property rankings show homes here generally have more modest square footage and assessments than the Winnipeg citywide average, pointing to a community of affordable, character homes.
5. Why is the citywide assessed value average so much higher?
The citywide average ($390k) includes all home types across all neighbourhoods. The more relevant comparisons are the local ones (Talbot Avenue and East Elmwood), where this property’s assessment ranks above average, indicating it is likely well-maintained within its specific market context.