Property Overview: 115 Elm Park Road, Winnipeg
Key Characteristics & Appeal
This two-storey home in Elm Park is defined by its generous proportions and established location. Built in 1931, it offers a spacious 1,604 sqft of living area, which ranks well above average for both the street and the neighbourhood. A key asset is the large, 5,999 sqft lot, placing it in the top 8% for land size on Elm Park Road, offering significant outdoor space and potential. The home features a renovated basement and a detached garage.
Its appeal lies in offering more space—both indoors and on the land—than most comparable homes in a mature, sought-after area. The assessed value is strong for the immediate locale, suggesting a solid investment within the community context. This property would best suit buyers who value character, space over new construction, and the stability of an established neighbourhood. It’s a practical choice for those seeking room to grow or garden, and who appreciate a home that stands out in its immediate surroundings for its lot size and living area.
Frequently Asked Questions
1. How does the age of the home (1931) affect its value?
While older than many area homes, this is reflected in its "below average" ranking for year built. However, its above-average rankings for living area, lot size, and assessed value on the street suggest the home's spaciousness and location are significant compensating factors that sustain its desirability.
2. Is the assessed value a reliable indicator of the sale price?
The assessed value of $43.40k is a municipal tax valuation. Notably, the home last sold in August 2022 for $40.30k. Current market conditions, the home's condition, and specific features will ultimately determine the sale price.
3. What does the "above average" lot size mean practically?
With a lot size in the top 8% on its street, this property offers a notably larger yard than most neighbours. This allows for greater privacy, landscaping opportunities, outdoor living space, and potential for additions (subject to zoning).
4. Who might this home not suit?
Buyers seeking a modern, turn-key home with no renovation projects may find the age a drawback. Similarly, those prioritizing a brand-new neighbourhood feel or attached garage convenience might look elsewhere.
5. How does this home compare to the wider Winnipeg market?
City-wide, its living area remains above average, but its lot size and assessed value are closer to the median. This highlights that its prime advantages—space and value—are most pronounced within the desirable Elm Park neighbourhood itself.