Property Overview: 255 Emerson Avenue, Winnipeg

Key Characteristics & Buyer Appeal

This 1954-built home in River East presents a clear value-oriented proposition. Its key characteristic is its compact 802 sqft living area, which is notably smaller than most homes on its street, in the neighborhood, and across Winnipeg. This is balanced by an above-average citywide lot size of just over 6,100 sqft. The assessed value of $288k is significantly below local averages, reflecting the home's smaller footprint and older vintage compared to nearby properties.

The primary appeal lies in its position as an affordable entry point into the market with land potential. It suits first-time buyers, downsizers, or investors seeking a lower-cost property with a sizable yard in an established area. The below-average taxes (tied to the lower assessment) are a practical benefit. A less obvious perspective is that its distinctively older age and modest size on a street of generally larger, newer homes could represent a unique renovation or redevelopment opportunity, where the value is in the land and the possibility to tailor a space from the ground up.

Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbors?
The assessed value is primarily based on the home's significantly smaller living area and its older construction date compared to the surrounding houses, which are larger and, on average, about 20 years newer.

2. What are the implications of having a much larger lot than the living space?
It offers valuable outdoor space and future potential. This could mean room for gardens, additions, or storage, but buyers should also consider the maintenance required for a larger yard.

3. How reliable is the listed sold price range from 2021?
The provided range is based on publicly available data, not the MLS. For fully verified and exact historical sale figures, you must request a manual lookup from the site via email.

4. The home ranks very low for size and value on its street. Is this a concern?
It indicates the property is an outlier on the block, which typically translates to a lower price point. It's not inherently a concern but underscores that this is a more modest, value-focused option rather than a comparable family-sized home.

5. Is this a good candidate for a major expansion or rebuild?
The combination of an older, smaller structure and an above-average lot size does suggest potential. However, any plans would require thorough investigation into zoning bylaws, renovation costs, and the economic feasibility given the area's average home values.