Property Summary: 1848 Elgin Avenue W, Winnipeg

Section 1: Key Characteristics & Appeal

This is a modest, one-storey home built in 1915 on a standard city lot in Brooklands. Its primary appeal lies in its land value and potential, rather than the current dwelling. The house itself is quite small at 644 sq ft, with an unrenovated basement and no garage. The assessed value is significantly below averages for the street, neighbourhood, and city, indicating the property is valued largely for the lot.

This property would suit a specific type of buyer: an investor, builder, or very hands-on homeowner looking for a land play or a complete rebuild project. It’s not a move-in-ready home. Its low price point and below-average taxes could appeal to those wanting to enter the market with minimal holding costs while planning for the future. A less obvious perspective is its potential for someone interested in “right-sizing”; the small footprint, if renovated thoughtfully, could offer an efficient, low-maintenance lifestyle on a decent-sized lot. However, this requires vision and capital for substantial improvements.

Section 2: Frequently Asked Questions

1. Is this a tear-down property?
While the home is livable, the data strongly suggests it. The very low assessed and recent sale values relative to the lot size and area averages indicate the existing structure adds minimal value. It is primarily a land purchase.

2. What is the true cost of owning this property?
The municipal taxes will be low due to the low assessment, but buyers must budget for significant ongoing maintenance, potential immediate repairs (like the unrenovated basement), and ultimately, the cost of a major renovation or rebuild.

3. What can be built on this lot?
You would need to consult the City of Winnipeg’s zoning bylaws for the specific property (R1, R2, etc.) to understand permissible uses, building size (FAR), setbacks, and whether a secondary suite or laneway home is an option. The lot size is standard for the area.

4. Why is the living area so much smaller than neighbourhood averages?
This highlights the property’s uniqueness on the street. Most homes in Brooklands, even older ones, have been expanded or replaced with larger dwellings over time. This home remains in its original, more compact configuration.

5. How does the 2021 sale price relate to the current assessed value?
The 2021 sale price of $8,800 was exceptionally low, even below the current assessed value of $11,600. This typically happens in a transaction between related parties, for a nominal land transfer, or for a property in very poor condition. It confirms the trend of the property being valued for its land.