Property Overview
94 Magnolia Street is a spacious, well-situated two-storey home in East Elmwood. Its key appeal lies in offering above-average space both inside and out, presenting a solid value proposition for specific buyers.
Key Characteristics & Buyer Profile
The home’s standout feature is its generous lot size of nearly 7,000 sqft, which places it in the top 3% of East Elmwood. This provides exceptional outdoor potential for gardening, play, or expansion. Coupled with a living area of 1,712 sqft (top 10% in the neighbourhood), the property offers more interior space than most local comparables. The detached garage and renovated basement add functional utility.
Its appeal is grounded in value and space rather than luxury. While its assessed value is above average for the immediate street and area, it sits around the city-wide median, suggesting you get more square footage and land for your dollar here than in many Winnipeg neighbourhoods. Built in 1955, it’s a typical mid-century home, likely with the character and maintenance considerations of that era.
This property would best suit practical buyers who prioritize yard space and room to grow over a turn-key modern finish. It’s ideal for families, hobbyists needing workshop or garden space, or long-term owners willing to update the home over time while enjoying one of the larger lots in the community.
Frequently Asked Questions
1. How does the property’s size compare to others?
The home is notably larger than most in East Elmwood, with a living area in the top 10% for the neighbourhood. The lot size is even more exceptional, ranking in the top 3%.
2. What does the “renovated basement” entail?
The listing confirms the basement is renovated but does not specify the scope or finish. This would require clarification with the seller regarding the work done, permits, and the current layout (e.g., whether it’s a legal suite, rec room, or storage).
3. Is the assessed value a reliable indicator of the sale price?
Not directly. The assessed value for municipal taxes was $32,500. However, a nearby, smaller home on the same street sold for $27,600 in 2021. Market conditions, property updates, and buyer demand will determine the final sale price.
4. What are the implications of a 1955 build date?
This is a mature home. While systems like roofing, wiring, or plumbing may have been updated, buyers should budget for potential repairs or modernizations common to houses of this age and consider an inspection.
5. What is the neighbourhood like?
East Elmwood is a established, residential community. The property’s lot size is a rare find here, offering a semi-suburban feel within the city. Proximity to schools, parks, and the Red River is likely, but specific amenities and traffic patterns should be researched.