Property Overview: 614 St Mary's Road, Elm Park, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1934, presents a classic character home opportunity in the established Elm Park neighbourhood. With 1,458 sqft of living space, it offers a practical footprint that is above average for the immediate area. The property sits on a standard city lot of just over 5,000 sqft and features a detached garage. Key data indicates its living space and assessed value are consistently around the average for its street, neighbourhood, and city-wide, suggesting it is a typical, no-surprises offering for its locale. The basement is noted as unrenovated, pointing to potential for future customization or a need for updates.

The primary appeal lies in its location within a mature community and its straightforward, functional layout. It suits a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who values the stability of an older neighbourhood and is prepared for the maintenance or gradual updating typical of a 90-year-old home. A thoughtful perspective is that its "around average" metrics in a desirable area like Elm Park could represent a stable, lower-risk entry point into the market, avoiding the premium of a fully renovated home while offering the same community benefits.

Frequently Asked Questions

1. What is the significance of the "around average" rankings for this property?
The rankings indicate that this home’s key metrics (size, value, lot) are typical for Elm Park and St. Mary's Road. This suggests it is priced and sized in line with the local market, offering a benchmark property without extreme outliers in cost or scale.

2. Does the unrenovated basement mean it's unfinished or just dated?
The listing specifies "not renovated," which typically means the basement exists and is functional but lacks modern finishes or updates. Buyers should budget for potential improvements or factor in the cost of making it a more livable space.

3. The home was last sold in 2016. How might that affect the sale?
The 2016 sale provides a historical price point ($280k), but the current assessed value is significantly different. This discrepancy is common and highlights that the assessment is for taxation, not market value. The actual sale price will be determined by current market conditions.

4. What are the pros and cons of a detached garage on this lot?
A detached garage offers flexibility (e.g., workshop space) and can reduce noise in the main house. However, on a standard city lot, it uses a portion of the backyard space and requires going outside to access it in winter.

5. Given its age, what should be a priority inspection?
For a home built in 1934, beyond standard inspections, particular attention should be paid to the foundation, the roof, the electrical and plumbing systems (which may have some updated sections but not a full re-wire/re-plumb), and the insulation and energy efficiency of the original structure.