Property Overview: 1855 Elgin Avenue W, Brooklands, Winnipeg

Section 1: Key Characteristics & Appeal

This is a modest, one-storey home built in 1960 on a standard city lot in Brooklands. Its key characteristics include a detached garage and an unrenovated basement. The living space is compact at 884 square feet, which is typical for the immediate area but below the Winnipeg average.

The primary appeal lies in its land value and location-specific standing. The lot size is generous for the neighbourhood, and the property ranks above average for its assessed value on its own street, suggesting it may represent solid value within this specific community. It’s a straightforward property that sold recently in late 2022, providing a clear, contemporary price benchmark.

This home would suit a pragmatic, value-conscious buyer. It’s ideal for a first-time homeowner comfortable with a home that may need updates over time, or an investor looking for a land-holding opportunity in a stable, established neighbourhood. Its manageable scale and lower property taxes (reflected in the assessed value) could also appeal to someone seeking to downsize or minimize carrying costs without leaving the city.

Section 2: Frequently Asked Questions

1. Is the basement finished or usable for storage?
The listing specifies the basement exists but is "not renovated." Buyers should assume it is in original condition, likely suitable for utilities and basic storage, but not designed as finished living space.

2. How does the sale price compare to the assessed value?
The home sold for $22,500 in December 2022, which is very close to its current assessed value of $23,200. This recent sale provides a concrete market value reference point.

3. The living area seems small. How does it compare to nearby homes?
At 884 sqft, it is slightly below the average for Elgin Avenue W but actually a bit larger than the average home in the broader Brooklands area. This indicates the home's size is quite typical for this specific community.

4. What do the rankings for "Year Built" and "Assessed Value" mean for this property?
The home, built in 1960, is newer than most on its street, which can be a positive. More notably, its assessed value ranks in the top 22% on its street, meaning it is valued higher than most direct neighbours—a sign it may have underlying value, potentially in its lot or condition, within this local context.

5. Who might this property not be suitable for?
It likely wouldn't suit buyers seeking a move-in-ready home with modern finishes, as the basement is unrenovated. It's also not ideal for those needing significant indoor space or premium neighbourhood amenities, as it is a compact home in a modest, working-class area.