Property Overview: 49 Cunnington Avenue, Elm Park, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home in the established Elm Park neighborhood presents a practical opportunity. Built in 1924, its 1,135 sqft living area and 5,195 sqft lot are both squarely average for the immediate area, offering comfortable, traditional family space without excessive upkeep. A key modern update is the renovated basement, adding valuable finished square footage. The home’s assessed value is notably below averages for the street, neighborhood, and city, which can signal a more accessible entry point into a desirable area or potential for value growth.

Its appeal lies in this balance of character and practicality. It suits buyers looking for a solid, no-frills home in a mature neighborhood, possibly first-time homeowners or downsizers who value a renovated basement space and a detached garage. A thoughtful perspective is that a home with an assessment below area averages can sometimes offer more negotiable pricing or room to add value through updates, without immediately over-improving for the street. However, its age means prospective buyers should be prepared for the maintenance and potential system updates typical of a century-old home.

Frequently Asked Questions

1. What does the below-average assessed value actually mean?
It indicates the city’s tax assessment is lower than many comparable homes nearby. This can result in relatively lower property taxes, but the sale price is determined by the market, not the assessment.

2. Are there any concerns with a home built in 1924?
While the basement has been renovated, the home’s age means essential systems like plumbing, electrical, or the foundation may require inspection. Its character comes with the responsibility of ongoing maintenance typical for a century-old property.

3. How does the living space compare for a family?
At 1,135 sqft (plus the renovated basement), the space is functional for a small to medium family. It’s not expansive, but is on par with many homes in Elm Park, prioritizing lot size over sheer interior square footage.

4. What is the significance of the sold data from 2019?
The sale five years ago provides historical context but does not reflect current market value. It shows the property has changed hands relatively recently, but current pricing will be driven by today’s market conditions.

5. Who might this property not suit?
It may not suit buyers seeking a modern, open-concept layout or those unwilling to manage the upkeep of an older home. Similarly, buyers prioritizing a premium, turn-key condition or a very large interior might find it too compact or in need of further updates.