Property Overview: 323 Keenleyside Street, East Elmwood

Key Characteristics & Appeal

This one-storey home, built in 1955, presents a practical and value-oriented opportunity in Winnipeg's East Elmwood neighborhood. Its key appeal lies in its strong positioning within its immediate area. With 1,024 sqft of living space, the home is perfectly average for Keenleyside Street and East Elmwood, fitting right into the community's fabric. The lot size of 4,870 sqft is notably above average for the street, offering good outdoor space relative to nearby properties.

The home’s most compelling characteristic is its financial profile. It boasts an assessed value that ranks well above average for both the street and the wider East Elmwood area, suggesting it is viewed favorably by assessors compared to its direct peers. This is contrasted by its last sale price in mid-2022, which was significantly lower, potentially indicating room for added value or a previous buyer’s opportunity. The basement has been renovated, adding functional living space.

This property would suit a first-time homebuyer or a pragmatic investor looking for a solid entry into the market. It’s for someone who values a larger lot and a home that stands above its immediate neighbors in terms of municipal assessment, without requiring a premium for excessive square footage. It’s a home that makes sense on its street and in its neighborhood, rather than one that tries to compete with city-wide averages.

Frequently Asked Questions

1. How does this home’s size compare to others?
At just over 1,000 sqft, the living area is very typical for Keenleyside Street and the East Elmwood area, but is below the city-wide average. It offers a comfortable footprint for the neighborhood.

2. What does the assessed value ranking mean?
The assessed value is in the top 21% for East Elmwood, meaning the city assesses this property as more valuable than most comparable homes in the area. This can be a sign of desirable updates, condition, or lot value, but it's important to distinguish this from current market value.

3. Is the 2022 sale price relevant today?
The sale price from June 2022 reflects the market conditions at that time. It primarily highlights that the current owner purchased at a price point well below the home's assessed value, which may inform your offer strategy but should be weighed against more recent comparable sales.

4. What are the implications of a larger lot?
The lot is larger than most on the street. This could provide more privacy, yard space, and future potential (like additions or landscaping) compared to immediate neighbors, which is a less obvious advantage in an older neighborhood.

5. Who might this home not suit?
Buyers seeking a move-in-ready home with modern, city-average square footage (over 1,300 sqft) or those who prioritize a newer build may find this property below their criteria. Its strengths are most apparent when compared directly to its local surroundings, not to newer suburban developments.