1476 Elgin Avenue W – Property Summary

Section 1: Key Characteristics & Buyer Profile

This 1,240 sqft home, built in 1919, sits on a 3,896 sqft lot in the Weston neighborhood of Winnipeg. Its most notable feature is the living space. At 1,240 sqft, it’s significantly larger than the Weston average of 936 sqft—ranking in the top 10% of the neighborhood—and comfortably above the average for its own street. You get more interior room without stepping up to a newer, often pricier, house.

The assessed value of $213,000 tells a practical story. While that’s above both the street and neighborhood averages, it’s well below the citywide average of $390,100. This suggests the home sits in a more affordable pocket of the city where older, smaller-lot properties dominate. The land area is typical for the street but larger than the neighborhood norm, giving a bit more outdoor space than immediate neighbors without the maintenance of a sprawling yard.

The appeal here is straightforward: you’re buying square footage inside at a relatively modest price point. It suits a buyer who values a home with generous room sizes, doesn’t mind a house built over a century ago (which likely means ongoing maintenance and character quirks), and is prioritizing useful living area over a premium location or modern finishes. It would be a strong fit for someone stretching for space on a tighter budget, or for a buyer willing to invest sweat equity in an older house that already offers solid bones and a decent lot.

Section 2: Five Possible FAQs

1. How does the year built (1919) affect everyday living?
This is an older home. Expect plaster walls, potentially original hardwood under carpet, and less standard insulation. Heating and cooling costs may be higher than in a newer build. On the positive side, 1910s houses often have solid framing, tall ceilings, and a level of craftsmanship not always found in mid-century or modern construction. A pre-purchase inspection should focus on the electrical system, foundation, and windows.

2. What does the assessed value tell me about the neighborhood?
The fact that the assessed value ranks in the top 24% within Weston but sits in the bottom 10% citywide shows this is a property that’s above-average for its immediate area but in a part of Winnipeg where prices are lower overall. You’re not paying a premium for a “hot” neighborhood, which can mean better value but slower resale appreciation. It’s a trade-off.

3. Why is the living area above neighborhood average but land area only average?
This is common in older streetcar suburbs like Weston. Houses were built close together on narrow lots, but many had additions or were designed with generous floor plans from the start. You’re getting the interior space of a larger home without the acreage that would push the price up in a different part of the city.

4. How do the rankings “out of 1736” in Weston work?
These rankings compare this property to other residential homes within the same neighborhood grouping. Being ranked 180th out of 1,736 homes for living area means only about 10% of nearby homes have more square footage. It’s a way to see where the property sits against its actual competition, not just citywide averages that mix in mansions and condos.

5. Is this a good investment property?
The low citywide assessed value relative to size suggests it could work as a rental if the purchase price is in line with the assessment. But the 1919 build date means older mechanicals and a higher likelihood of deferred maintenance. A savvy investor would budget for capital repairs (roof, boiler, windows) before counting on cash flow. For a flipper, the gap between assessed value and neighborhood value isn’t wide, so profit margins would come from adding living space or updating finishes, not from location arbitrage.