Property Overview

This one-and-three-quarter storey home on Talbot Avenue in East Elmwood is a property defined by its historical character and practical positioning in the Winnipeg market. Built in 1907, it offers 1,064 sqft of living space, which is notably above average for its immediate street and neighbourhood. The home sits on a 3,013 sqft lot and features a detached garage. Key points include an unfinished basement and no pool. Its most striking characteristic is its assessed value, which is significantly below average at every comparison level—street, neighbourhood, and city-wide. This creates a distinct profile of a century-old home with compact, efficient living space on a smaller lot, carrying very low property taxes compared to most other homes.

Section 1: Key Characteristics & Appeal

The primary appeal of 768 Talbot Avenue lies in its combination of modest, usable space and an exceptionally low carrying cost. The living area is generous for the area, offering more room than many neighbouring homes, while the assessed value (and thus, property taxes) is in the bottom tier. This presents a rare opportunity for cost-conscious entry into homeownership or for an investor seeking a property with a high rent-to-tax ratio.

Its charm is rooted in its early-20th-century build, appealing to those who appreciate older home character. The detached garage adds practical value. This property would best suit a first-time buyer or an investor with a renovation budget, as the unfinished basement and age of the home suggest potential for updates. It’s less suited for those seeking a modern, turn-key home or a large outdoor space, as the lot size is below average.

A less obvious perspective is its "middle" ranking in living area: it's spacious for the block but average city-wide. This means you get more house for your money on Talbot Avenue than you might elsewhere, but without the premium price tag of a larger, city-average home. It’s a smart compromise.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessed value is primarily for calculating property taxes and is influenced by factors like home size, age, condition, and recent sales in the area. This home’s age (1907), smaller lot size, and the lower average values on its street contribute to its below-average assessment, resulting in significantly lower annual property taxes.

2. What does "one-and-three-quarter storey" mean for layout?
This style typically features full-sized rooms on the main floor and a second floor where the roof slope reduces the ceiling height in parts of the rooms. It often means cozy, character-filled upper bedrooms but may have less usable square footage on the second level than a full two-storey home.

3. How does the living area compare practically?
At 1,064 sqft, the living space is above average for both Talbot Avenue and East Elmwood. This suggests the home likely feels roomier than many immediate comparables, but it is still a compact, efficient footprint compared to the Winnipeg city-wide average of 1,342 sqft.

4. What is the potential of the unfinished basement?
The basement presents an opportunity for additional living space, storage, or utility area, but it requires investment. Buyers should budget for potential moisture management, insulation, and finishing, which is common for homes of this era.

5. Are the low taxes a permanent advantage?
Property assessments are periodically updated. While the current low assessment provides a tax advantage, a significant renovation or a sharp rise in area sale prices could lead to a higher assessment in the future, potentially increasing taxes.