Property Overview
This 1989-built, one-storey home in Elmhurst offers a practical and spacious family layout on a large, 7,417 sqft lot. Its key appeal lies in its above-average scale and established setting. With 1,654 sqft of finished living space, including a developed basement, it provides ample room. The property ranks highly for its lot size and overall assessed value within Winnipeg, indicating a solid, competitive offering in the broader market. It would suit buyers looking for a move-in-ready, single-level home with a sizable yard in a mature neighbourhood, prioritizing space and value over a newer build. A thoughtful perspective is that while the home itself is middle-of-the-pack for its immediate street in terms of size and value, its lot size and community-wide rankings suggest a property with underlying land value and stability that outshines many in the city.
Frequently Asked Questions
1. How does the home’s age affect its condition and potential costs?
Built in 1989, major components like the roof, windows, and HVAC systems are likely within or beyond their typical lifespan. A thorough inspection is crucial to anticipate potential updates, though this era of home often features well-understood construction methods.
2. What are the advantages of such a large lot?
The nearly quarter-acre lot provides significant outdoor space for gardening, recreation, and privacy—a feature increasingly rare in newer subdivisions. It also offers potential for future expansion, like a shed or deck, subject to local bylaws.
3. The home ranks higher city-wide than on its own street. What does this mean?
This suggests the property is a strong performer compared to the entire Winnipeg market, but is on a street with other substantial homes. It indicates a good investment within a desirable, established area where property values are consistently solid.
4. Is the finished basement included in the listed living area?
Typically, Canadian listing standards quote above-grade square footage. The 1,654 sqft figure likely refers to the main floor. The separately noted "finished basement" adds significant additional living space not reflected in that primary number.
5. What is the significance of the assessment value versus the asking price?
The municipal assessment ($518,000) is for tax purposes and reflects a mass appraisal from a prior date. It’s a useful benchmark for comparing against neighbours, but the market-based asking price will reflect current conditions, updates, and seller motivation.