Property Overview
93 Elm Park Road is a compact, one-storey home built in 1952, situated on a modest lot in Winnipeg's Elm Park neighborhood. Its primary appeal lies in its efficient, renovated basement and its position as a relatively newer home within a well-established area. The property presents a specific value proposition: while its living space (911 sq ft) and land area are below the local averages, its assessed value is firmly in line with neighborhood norms. This suggests you are paying for location and lot potential rather than square footage. It would suit a first-time buyer, downsizer, or investor looking for a lower-maintenance, entry-level home in a mature community, with the understanding that the interior space is cozy and the yard is smaller than many on the street.
Key Details & Suitability
- Key Characteristics: A 911 sq ft, one-storey home with a renovated basement, built in 1952. It sits on a 4,743 sq ft lot, which is smaller than most in Elm Park. The last sale was in May 2021 for $40,400.
- Where the Appeal Lies: The home is notably younger than many of its immediate neighbors, potentially meaning fewer major age-related concerns. The renovated basement adds functional living space. Its assessed value is typical for the area, offering a priced-to-market entry point into the neighborhood.
- Ideal Buyer Profile: This property is best for those prioritizing location over size. It suits practical buyers who value a manageable yard and a home that isn't the oldest on the block. It's less suited for those needing ample indoor living space or a large private outdoor area.
Frequently Asked Questions
1. Is the house smaller than others nearby?
Yes. At 911 sq ft of living area, it is smaller than the average home on Elm Park Road (approx. 1,274 sq ft) and in the Elm Park area overall.
2. What does the "renovated basement" include?
The provided details confirm the basement is renovated but do not specify the finishes or rooms. This would require clarification with the listing agent to understand the scope and quality of the renovation.
3. How does the lot size impact the property?
The lot is 4,743 sq ft, which is below average for the street and neighborhood. This means smaller outdoor spaces but also less yard maintenance.
4. The 2021 sale price seems low. Why is that?
The sale price from 2021 ($40,400) is a historical data point and not a reflection of current market value. The current assessed value is $36.30k, which is around the average for comparable homes in the area.
5. Given its smaller size, is it a good value for Elm Park?
Its assessed value is average for the neighborhood, meaning you pay a standard Elm Park price. The value comes from gaining entry to the location and a newer-than-average home, rather than from getting more square footage for your money.