Property Summary: 1026 Edderton Avenue

Section 1: Overview & Appeal

This one-and-a-half storey home in Beaumont presents a classic Winnipeg character property with significant potential. Its key appeal lies in its substantial 5,024 sqft lot, which is notably larger than over half the properties on its street, offering valuable outdoor space in the city. Built in 1922, it is one of the older homes in the area, which translates to established, mature surroundings but also suggests a project for the buyer. The living area of 930 sqft is modest, positioning this as a starter home or a downsizing opportunity.

The property’s strongest suit is its land value and location within a well-established neighbourhood. It would particularly suit a hands-on buyer looking for a footprint in a mature community, willing to invest in updates over time. It’s also a practical candidate for those prioritizing lot size over immediate move-in condition, as the basement is noted as unrenovated. The very low assessed and recent sold values indicate it is one of the most affordable entry points into the area, ideal for budget-conscious buyers or investors seeing long-term potential in the lot itself.

Section 2: Frequently Asked Questions

1. What does "one-and-a-half storey" typically mean for a 1922 home?
This style often features a main floor with principal rooms and a second floor with sloped ceilings under the roofline, creating cozy bedrooms or attic spaces. In a home of this age, it underscores its character but may involve unique layouts and renovation considerations.

2. The assessed value is very low compared to nearby homes. Is this a concern?
Not necessarily. The low assessment primarily reflects the home’s age, modest size, and unrenovated state relative to newer or updated houses on the street. It strongly indicates that the property's value is currently in the land rather than the structure, which can be an opportunity for the right buyer.

3. How significant is the large lot size?
At over 5,000 sqft, the lot is a key asset. It provides ample yard space, which is less common in older neighbourhoods, and offers future potential for gardening, expansion, or outdoor living—options that are increasingly valuable.

4. The home last sold in late 2022. What should I consider?
The recent sale suggests a relatively quick turnaround. It’s wise to investigate why—was it an investment flip, an estate sale, or a homeowner change due to life circumstances? Understanding the short ownership period can provide context, though it’s not inherently negative.

5. The basement is noted as "not renovated." What should I expect?
For a century-old home, this likely means a traditional stone or concrete foundation with basic, functional space for utilities and storage. It may have lower ceilings and require attention to moisture control and insulation. Budgeting for professional inspection here is crucial.