Property Overview: 914 Beach Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1952, presents a solid opportunity in Winnipeg's East Elmwood neighborhood. Its key strength lies in offering above-average space for the immediate area. With 1,155 sqft of living area and a nearly 5,000 sqft lot, it ranks within the top 20-30% of similar homes on Beach Avenue and in East Elmwood for both size and land area. The property features a renovated basement and a detached garage.
The appeal is grounded in value and space relative to its local market. For the street and neighborhood, it is a larger-than-average home on a larger-than-average lot, yet its assessed value remains modest and in line with the area. This creates a practical proposition for buyers seeking room to grow or live without paying a premium typically associated with such proportions in other parts of the city. It would suit first-time buyers, downsizers looking for single-level living potential in a one-and-a-half storey, or value-focused investors attracted to a renovated basement suite (subject to verification) and the stable, established East Elmwood community. A less obvious perspective is that its "average" citywide metrics highlight a specific value: you are purchasing a home that stands out in its own community rather than one competing in the broader, often more expensive, Winnipeg market.
Section 2: Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not confirm it as a legal, rentable secondary suite. This is a crucial point for buyers to investigate with the seller and the city for permits and compliance.
2. How does the low assessed value relate to the potential sale price?
The assessed value is for municipal tax purposes and is typically lower than market value. The last recorded sale was in 2017 for $22,500, which is not reflective of current market conditions. A professional appraisal and market comparison will be necessary to determine today's value.
3. What does the "one-and-a-half storey" design mean for living space?
This style often features a main floor with primary living areas and a second floor under sloping roofs, which may have cozier ceiling heights in parts. It's wise to assess if the upper floor layout and headroom suit your needs.
4. The home is 74 years old. What should I be aware of?
While the basement has been renovated, a thorough inspection is essential to evaluate the condition of major aging components like the roof, foundation, plumbing, and electrical systems, which may need updating.
5. How does the property rank so well locally but average citywide?
This highlights East Elmwood's character as an established neighborhood with generally modestly sized, older homes. This property is a strong performer within that specific context, offering more space than its neighbors, whereas citywide averages are lifted by newer subdivisions with larger modern builds on different price points.