Property Overview
107 Woodchester Bay is a well-maintained, single-storey home in Winnipeg's Elmhurst neighbourhood. Built in 1983, it sits on a generous, mature lot of just under 5,000 sqft. The 1,120 sqft home features a finished basement and an attached garage. Its key appeal lies in its established setting, solid brick-and-mortar construction from the early 80s, and a layout that offers single-level living. The property presents a practical, move-in-ready opportunity without the premium price tag of newer builds or extensive renovations.
This home would suit first-time buyers seeking a manageable footprint and reliable structure, or downsizers looking for a comfortable, low-maintenance bungalow. Its strong rankings for lot size and building age within its immediate area suggest it offers good value and permanence compared to neighbouring properties. A thoughtful perspective is that while its interior space is modest, the large lot provides valuable outdoor potential and a sense of space that newer subdivisions often lack. It’s a home for those who prioritize a stable, long-term neighbourhood character over trendy finishes.
Frequently Asked Questions
1. How does the property’s age impact its value?
Built in 1983, the home is newer than many in its immediate area, ranking in the top 3% on its street for age. This suggests major components like the roof, windows, and foundation may have more recent updates or longer remaining lifespans than older counterparts, which is a key value consideration.
2. Is the finished basement included in the listed living area?
No. The 1,120 sqft figure refers to the above-grade living space. The finished basement provides additional usable rooms, but this square footage is not typically counted in the official living area calculation, meaning the home offers more functional space than the main figure implies.
3. What do the ranking percentages actually mean?
They show how this property compares to others in three geographic circles. For example, its lot size ranks in the top 5% within the broader Elmhurst community, meaning it’s larger than 95% of nearby lots. Conversely, its living area is more average, larger than only about 27% of homes in the community.
4. Who might this property not suit?
It may not suit buyers seeking a modern, open-concept layout, as the room divisions are typical of its era. It also may not fit families requiring extensive above-grade bedroom space, as the single-level footprint is efficient. The value here is in the land, solidity, and neighbourhood.
5. How should I interpret the assessment value?
The municipal assessment of $381,000 is for tax purposes and provides a benchmark. Its ranking shows it’s assessed higher than 60% of all Winnipeg homes, indicating the city views it as a solid, above-average property. Market value can differ based on condition, updates, and current market trends.