Here is a clean, standalone summary of the property at 754 Elgin Avenue.
Key Characteristics & Buyer Profile
This is a 1901-built home offering 1,024 sq. ft. of living space on a 3,274 sq. ft. lot. Its most defining feature is its affordability: with an assessed value of $134,000, it ranks in the bottom 2% city-wide, making it one of the most cost-effective properties in Winnipeg. The land and living areas are typical for its street and neighbourhood, meaning you’re not sacrificing space for the low price.
The appeal here is straightforward but specific. This property suits a buyer who wants to own a standalone home without stretching their budget, and who is comfortable with an older build. The year built (1901) ranks in the oldest 1% of homes in the city, so maintenance and potential updates are a given. It is not a turnkey, worry-free purchase. The ideal buyer is someone willing to invest sweat equity, has a realistic view of older home systems, and prioritizes getting a foothold in the market over modern finishes or premium location. This is a value play, not a lifestyle upgrade.
Five Possible FAQs
1. The assessed value is very low. Does that mean the property is in rough shape?
Not necessarily. The low value primarily reflects the age of the home, its relatively modest living area, and the local market. It means the property is priced for entry-level buyers, but a full inspection is essential to assess the actual condition, as age alone doesn’t dictate quality.
2. How does the land size compare, and is there room for expansion?
The lot is 3,274 sq. ft., which is average for the street and neighbourhood. It is smaller than the citywide average, so you will not get a large yard. Expansion potential depends on local zoning and the existing footprint, but the lot is not oversized for adding a significant addition.
3. I see the home was built in 1901. What should I be most concerned about?
Older homes often have original foundations, electrical systems, and plumbing that may need updates. Lead paint and asbestos in old insulation or flooring are also common. A specialized home inspector familiar with pre-war construction is a wise investment here.
4. Is this property in a high-demand area?
It sits in West Alexander, where assessed values are lower than the city average. The neighbourhood has stable but not premium demand. Buyers get more space for less money, but resale may take longer compared to hot-market districts. You are trading convenience for cost.
5. How does the property rank against others on the same street?
On Elgin Avenue, this home ranks in the top 79% for affordability (low value) and the top 51% for living area. It is around average for lot size but older than most neighbours (top 82% oldest). It stands out for its low price, not for its size or condition relative to the street.