Property Overview: 672 St Mary's Road, Elm Park, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1946, featuring 990 sqft of living space and a renovated basement. Its standout feature is the generous 7,639 sqft lot, which is notably larger than most in both the Elm Park neighbourhood and city-wide. The home presents a practical blend: the interior living space is modest and below the city average, but it sits on a substantial parcel of land that offers significant potential for gardening, expansion, or simply enjoying ample outdoor privacy in a mature area.
The appeal lies in this balance between a manageable, updated living space and the valuable land it occupies. It suits a specific buyer: perhaps a downsizer seeking a single-level layout without sacrificing yard space, a first-time buyer looking for an entry point into a established neighbourhood with room to grow in the future, or an investor attracted by the lot value and the income potential from the renovated basement suite. It’s a property where the true value may be more in the land and location than in the size of the house itself.
Frequently Asked Questions
1. Is the lot size typical for the area?
No, it's a key advantage. At over 7,600 sqft, the lot ranks in the top 11% within Elm Park, offering significantly more outdoor space than most neighbouring properties.
2. How does the home's size compare to others?
The living area (990 sqft) is below the Winnipeg city average. It's a compact, efficient layout, which is reflected in its "around average" assessed value for the street and city.
3. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the finishes or layout. This should be verified during a viewing to understand if it's a finished living space, a rental suite, or updated utility and storage areas.
4. The home was last sold in July 2021. What does that mean?
It indicates the current owners have been there for a short period (approximately 3 years based on the 2024 listing). Understanding their reason for selling so soon could be insightful, though it may simply reflect a change in life circumstances.
5. Is the assessed value a reliable indicator of the sale price?
Not directly. The municipal assessed value of $37,900 is for taxation purposes. The home last sold for $370,000 in 2021, which is a more relevant market benchmark, though current conditions will determine the new sale price.