Property Overview: 18 Elm Park Road, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Elm Park presents a solid, renovated foundation in a well-established neighbourhood. With 1,527 square feet of living space, it offers more room than many comparable homes on its street and in the wider area, placing it in the top quarter for size locally. A key feature is the renovated basement, adding functional living space. The property sits on a standard city lot just over 5,300 sqft and includes a detached garage.
Its primary appeal lies in its above-average living space within a context of average assessed value, suggesting good utility for the price point. Built in 1940, it is a character home typical of the area, not a modern build. The recent sale in late 2024 indicates a refreshed market valuation. This home would best suit buyers looking for a move-in-ready character home with ample space, who value the mature setting of Elm Park over a brand-new subdivision. It’s a practical choice for those who want room to grow without the premium often attached to significantly larger or newer properties, and who appreciate the potential stability of a home with a recently renovated core space.
Frequently Asked Questions
1. How does this home’s size truly compare to others?
While the home’s living area is above average for Elm Park, it’s important to note that its overall assessed value is around the neighbourhood average. This can indicate you’re getting more square footage for your dollar compared to peers, though the layout and functionality of that space are key.
2. What does the “renovated basement” entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the quality of finishes, the presence of proper moisture protection, and whether it includes a legal secondary suite or is simply finished living space.
3. Is the assessed value a good indicator of the sale price?
The assessed value ($35.60k) is for taxation purposes and is not a market price. The home sold for $38.20k in late 2024, which is a more relevant current market indicator. Historically, it sold for $370k in 2022, showing market movement.
4. What are the implications of a 1940s build?
A home of this age will have character but may also have older building systems (like plumbing, electrical, or insulation) unless specifically updated. The renovated basement is a positive, but a thorough inspection is crucial to understand the condition of the original structure.
5. How does the detached garage affect usability?
A detached garage offers flexibility and can be ideal for a workshop or to reduce noise in the main house. However, it is less convenient during Winnipeg winters compared to an attached garage. The value it adds is personal and seasonal.