Property Overview
This two-storey home at 95 Elm Park Road presents a solid, renovated offering in a well-established Winnipeg neighbourhood. With 1,320 sqft of living space and a renovated basement, it fits comfortably within the average size for the area. Its standout feature is its assessed value, which ranks above average for both Elm Park Road and the broader Elm Park area, suggesting a perception of good value or desirable updates. The home sits on a 4,740 sqft lot, which is smaller than most in the immediate vicinity but is close to the city-wide average. Built in 1951, it is a relatively newer build for the Elm Park neighbourhood. The property last sold in February 2023 for $42.30k.
Key Characteristics & Appeal
The primary appeal of this home lies in its balance and readiness. The renovated basement adds functional living space, a significant advantage over many homes of this vintage. Its above-average assessment for the area, coupled with a recent sale, indicates a property that is likely well-maintained and competitively positioned in the market. The detached garage is a practical asset for vehicle storage or workshop space.
This property would suit a buyer looking for a move-in ready home in a mature neighbourhood without the footprint or maintenance of a larger lot. It’s ideal for small families, couples, or professionals who value interior updates and neighbourhood character over expansive outdoor space. A thoughtful perspective is that the smaller lot could be seen as an advantage for those seeking lower yard upkeep, while still providing private outdoor space. Its strong ranking in assessed value within Elm Park suggests it may hold its value well in the local context, appealing to the prudent buyer.
Frequently Asked Questions
1. Is the smaller lot size a concern?
While the lot is below the average for Elm Park Road, it is near the city-wide average. It offers a manageable yard with less maintenance, which can be a positive for many buyers.
2. What does the "above average" assessed value mean?
It means the property’s official assessed value is higher than most comparable homes in the immediate area. This often reflects renovations, desirable features, or a favourable location on the street, but it's important to compare this to recent sale prices and market conditions.
3. What can the 2023 sale price tell me?
The sale price from February 2023 provides a recent market benchmark. Comparing it to the current asking price (if listed) and the assessed value can help gauge market trends and the seller's positioning.
4. Are homes from 1951 likely to have issues?
Homes of this age may have older components like plumbing or electrical systems, even with a renovated basement. A thorough home inspection is always recommended. On a positive note, in the context of Elm Park, a 1951 build is relatively newer.
5. Who might this property not suit?
Buyers seeking a very large yard, ultra-modern open-concept layouts, or a home significantly newer than the neighbourhood median may want to consider other options. It best fits those who appreciate established neighbourhoods and updated practicality.