Property Summary: 39 Mager Drive, Elm Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Elm Park is a classic character property built in 1940, sitting on a notably generous lot. With 1,295 sqft of living space, it offers a comfortable footprint that is average for the immediate street but benefits from a renovated basement, adding functional space. The home’s standout feature is its land—at 7,750 sqft, the lot size ranks well above average for both the Elm Park neighbourhood and the city overall, presenting a rare opportunity for gardening, expansion, or simply enjoying ample private outdoor space.
Its appeal lies in this balance of established charm and practical potential. The assessed value is strong relative to the area, suggesting solid inherent value and desirable location attributes. It suits buyers looking for a home with character in a mature neighbourhood, who value a larger, established yard over a modern garage. It would particularly appeal to those with a vision to personalize a solid older home, or to families seeking outdoor space that is increasingly hard to find in city centres.
Section 2: Frequently Asked Questions
1. How does the lot size compare to typical city lots?
The 7,750 sqft lot is significantly larger than the Winnipeg city average of approximately 6,570 sqft, placing it in the top 12% citywide. This is one of the property's most distinguishing assets.
2. The home was built in 1940. What should I consider?
While the basement has been renovated, a home of this age will likely have original elements. Prospective buyers should budget for ongoing maintenance and updates typical of the era, and consider a thorough inspection for systems like wiring and plumbing.
3. There's no garage. Is adding one feasible?
The large lot certainly provides the physical space to add a garage or carport. Any addition would be subject to local zoning bylaws and permitting, but the lot size is a major advantage for this kind of project.
4. The assessed value seems high relative to the sale history. Why?
The property last sold in 2019 for $440k and now carries a $514k assessed value. This increase reflects general market movements and specific improvements (like the basement renovation) over five years. Assessments are for taxation purposes; market value is determined by current sale conditions.
5. What does the "above average" ranking for assessed value in Elm Park mean?
It means this home’s official assessed value is higher than most homes in Elm Park, ranking in the top 7% for the neighbourhood. This often indicates a combination of desirable location, lot characteristics, and property condition relative to area peers.