Property Overview & Key Characteristics
This 756 sqft, one-storey home in Elm Park is defined by its practicality and position as an entry-point into a well-established neighbourhood. Built in 1924, its key appeal lies in its renovated basement and a detached garage, offering functional space beyond its modest main-floor living area. The lot is a manageable 4,851 sqft, close to the city-wide average, providing outdoor space without excessive upkeep.
Its primary appeal is value and location. With a historically low assessed value and a last sale price well below typical city averages, it represents a rare opportunity for cost-conscious entry into the Winnipeg market. It particularly suits first-time buyers, downsizers seeking a simpler footprint, or investors looking for a character home with renovation potential. A thoughtful perspective is that its smaller size and older vintage, while less common in the area, translate to significantly lower property taxes and utility costs compared to larger, newer homes—a lasting financial advantage. Its location on a main road like St. Mary's offers convenience, though buyers should weigh this against potential noise.
Frequently Asked Questions
1. How does the home's size compare to the neighbourhood?
The living area is notably smaller than most homes in Elm Park, ranking in the bottom 7% for the neighbourhood. This is the defining characteristic of the property and is reflected in its pricing.
2. What does the low assessed value mean?
The assessed value is significantly below averages for the street, neighbourhood, and city. This typically results in much lower annual property taxes, which is a considerable long-term saving for the owner.
3. Is the renovated basement a full suite?
The listing confirms a renovated basement but does not specify it as a legal suite. Buyers should verify the renovations comply with codes and understand its permitted use.
4. What are the implications of the 1924 build date?
As a century-old home, it likely has character but may require updates to major systems like wiring, plumbing, or insulation. A thorough inspection is essential.
5. How does the lot size impact the property?
At just under 5,000 sqft, the lot is manageable for maintenance and is actually close to the Winnipeg average. However, it is smaller than most lots on its own street and in Elm Park, which generally offers larger plots.