Property Overview
979 Talbot Avenue is a compact, one-storey home in Winnipeg's East Elmwood neighborhood. Built in 1952, its primary appeal lies in its generous 5,488 sqft lot, which is significantly larger than most in the immediate area. The house itself is modest at 664 sqft of living space, with an unrenovated basement and a detached garage. Its assessed value is notably low compared to the Winnipeg city-wide average, but is typical for the street and neighborhood. This creates a specific value proposition: a very affordable entry point into homeownership where the land itself represents a substantial portion of the asset. It suits first-time buyers, investors, or downsizers comfortable with a smaller living footprint who see potential in the sizable yard for gardens, expansion, or future value.
Key Considerations & FAQs
1. What is the true condition of the home?
The listing notes the basement is "not renovated," which suggests the home likely requires updates. Buyers should budget for maintenance and potential improvements, viewing the property as a land purchase with a liveable structure.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's smaller size, age, and the local East Elmwood market. It indicates affordability but is not a direct market sale price. The last recorded sale was in 2019 for $16,700.
3. How does the large lot size benefit me?
The lot is in the top 11-12% for size on its street and in East Elmwood. This offers rare outdoor space for the area, providing room for recreation, storage, or future projects like a garden, shed, or even an addition (subject to zoning).
4. Who would this property not suit?
It would not suit those needing significant move-in-ready space or multiple bedrooms. The living area is well below local averages, making it a tight fit for growing families or anyone who works extensively from home without a plan to modify the layout.
5. What's the long-term perspective here?
This property is a classic "value-add" opportunity. Its worth is anchored in its land, not its structure. The long-term play involves the potential for the neighborhood to rise, making the large lot increasingly valuable, or for the owner to incrementally improve the home to unlock equity. It's a patient investment rather than an immediate luxury.