Property Overview
This one-storey home in Elm Park presents a compact, renovated living space on a generous lot. Its key appeal lies in the combination of a smaller, manageable house with a large, private yard—a rare find in a mature neighbourhood. At 768 sqft, the living area is notably below average for the street, area, and city, making it a true character home rather than a spacious family dwelling. However, it features a renovated basement and a detached garage. The lot size of over 5,000 sqft is a significant asset, offering ample outdoor potential. With an assessed value around the neighbourhood average and a century-old build date from 1926, it represents a grounded entry point into a well-established community.
This property would best suit a first-time buyer, downsizer, or an investor seeking a character home with a strong land component. Its appeal is for those who prioritize outdoor space and location over square footage, and who are comfortable with a home whose historical charm comes with the practicalities of an older build. The recent sale history suggests a market that recognizes its unique value proposition.
Frequently Asked Questions
Is the house too small?
At 768 sqft above grade, it is significantly smaller than the average Winnipeg home. The renovated basement adds functional space, but the layout is best for individuals, couples, or those comfortable with compact, efficient living.
What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or if it includes a legal suite. This is a key detail to verify with the listing agent, as it impacts livable space and utility.
Why is the assessed value notably lower than recent sale prices?
The assessed value is a municipal calculation for tax purposes, often lagging behind market trends. The sale history shows the market value can be higher, indicating buyer demand for this home's specific lot and location.
What are the implications of a 100-year-old home?
A century-old home in Elm Park offers established charm and mature landscaping but requires diligent inspection. Attention should be paid to the foundation, plumbing, electrical updates, and overall maintenance inherent to a property of this age.
How does the lot size compare, and what can I do with it?
While the lot is the smallest on its street, at over 5,000 sqft it is still substantial. Compared to newer subdivisions, it offers significant outdoor space for gardens, recreation, or future expansion, subject to local zoning bylaws.