Property Overview: 110 Avril Lane
This well-established two-storey home in Elmhurst offers a blend of space and mature neighbourhood charm. Built in 1983, it sits on a generous 5,197 sqft lot and provides 2,245 sqft of living space, which is notably larger than most homes in Winnipeg. The property features an unfinished basement, presenting a blank canvas for future expansion or storage. It does not include a garage or pool.
The home’s primary appeal lies in its above-average interior space and substantial lot size within a settled community. Recent market activity is positive, with a November 2024 sale price of $601,000 surpassing both its assessed value and the majority of comparable sales in the area. This suggests strong buyer recognition of its inherent value. The property is ideally suited for buyers who prioritize living space over brand-new condition, and for those who see potential in an unfinished basement to customize the home to their needs. It would also fit a household looking for a stable, mature neighbourhood rather than the latest modern finishes.
Key Considerations & FAQs
1. How does the recent sale price compare to the assessment?
The home sold for $601,000 in November 2024, which is approximately 16% above its municipal assessed value of $519,000. This indicates the market valued the property significantly higher than its official tax assessment at that time.
2. What do the ranking percentages actually mean for a buyer?
The rankings show the home’s position relative to others. For example, its living area is larger than 95% of Winnipeg homes, a major strength. However, its 1983 build date is newer than only 65% of the city's homes, placing it in the middle of the pack for age. It's a trade-off: exceptional space in a home of average age for the area.
3. Is the lack of a garage a significant drawback?
This depends on buyer priorities. For some, it’s a major inconvenience. For others, the large lot could present an opportunity to add a garage or dedicated parking structure in the future, potentially adding value.
4. The home ranks lower within its own community than in Winnipeg overall. Why?
While the home excels in space city-wide, the Elmhurst community itself contains many large, established homes. Therefore, its impressive size ranks lower within its immediate peer group. This doesn’t diminish its spaciousness, but highlights the character of the neighbourhood.
5. What does the unfinished basement mean for immediate costs?
It offers valuable storage and future potential, but any development (e.g., a rec room, suite, or additional bedrooms) would require a significant additional investment. Buyers should budget for this if finishing the basement is a near-term goal.