Property Overview
This one-and-a-half storey home on Beach Avenue in East Elmwood presents a practical and well-positioned opportunity. Its key appeal lies in its above-average living space and updated condition within a mature neighbourhood. The 1,434 sqft home sits on a standard city lot and benefits from a renovated basement and a detached garage. Data shows it stands out locally, ranking in the top 20% for both living area and assessed value on its street and in East Elmwood, suggesting it is a sizeable and well-maintained property for the area. Built in 1952, it is typical for the neighbourhood's vintage.
The property would suit a buyer looking for move-in-ready space without the premium of a new-build, such as a young family seeking room to grow or a downsizer wanting a manageable home without compromising on square footage. Its strong local rankings indicate it's a solid, above-par offering for East Elmwood, offering more house for the money compared to many immediate peers. A thoughtful perspective is that while the lot size is smaller than area averages, this often translates to less yard maintenance, which can be a bonus for those seeking a more lock-and-leave lifestyle or preferring to focus on the home's interior living space.
Frequently Asked Questions
How does this home compare to others in the area?
The home ranks above average for both its living area and assessed value within East Elmwood and on Beach Avenue itself. This generally indicates it offers more interior space and is in a better state of repair than many comparable properties nearby.
What is the significance of the assessed value?
The assessed value of $31,400k is for municipal tax purposes. It is notably higher than the local street and neighbourhood averages, which often correlates with recent improvements and a higher quality of construction or finish than surrounding homes.
Is the smaller lot size a concern?
While the land area is below the average for the street and city, it is a standard city lot for the neighbourhood. This can mean lower maintenance and is typical for the area's density. The trade-off is that the property offers more interior space relative to its land footprint.
What can nearby sales tell us?
A very similar home at 859 Beach Avenue sold in August 2023 for $29,20k. That home is slightly smaller, older, and has a higher assessed value, providing a useful benchmark for the current property's potential market value.
What type of neighbourhood is East Elmwood?
East Elmwood is a long-established, mature neighbourhood in Winnipeg. It typically offers more affordable entry into homeownership with character homes, and is known for its community feel and proximity to the Red River and parks.