Property Overview & Key Characteristics
This 1994-built, one-storey home in Elmhurst offers a practical layout with 1,271 sqft of living space and a finished basement, all situated on a notably large, 8,387 sqft lot. Its appeal lies in a combination of space, established location, and relative value. The property's standout feature is its generous lot size, which ranks within the top 10% of all Winnipeg properties, offering significant outdoor space and potential in a mature neighbourhood. While the house itself is newer than most in Winnipeg (top 23%), its interior square footage is more modest, suggesting the value proposition leans heavily on the land and the flexibility of a bungalow style with a developed basement.
This home would suit first-time buyers or downsizers looking for a manageable single-level floorplan with room to grow outdoors, as well as value-oriented buyers who see potential in the existing structure or the substantial lot. It is a property for those who prioritize land size and neighbourhood establishment over a large or recently built house.
Frequently Asked Questions
1. What is the true advantage of such a large lot?
Beyond simple outdoor space, a lot of this size (over 8,300 sqft) in an established area like Elmhurst is increasingly rare. It provides exceptional privacy, room for additions like a garage or workshop, extensive gardening possibilities, and long-term investment value tied to land scarcity.
2. The home ranks low for size on its street. Is this a concern?
This indicates the street consists of larger homes, which is typically positive for maintaining neighbourhood character and property values. It suggests you are buying into a well-established area, with the trade-off being the house itself may be more modest compared to immediate neighbours.
3. How does the finished basement impact living space?
The finished basement effectively doubles the usable living area, providing crucial flexibility for a family room, home office, or guest space that isn't reflected in the main floor square footage alone, making the home feel more spacious than the 1,271 sqft suggests.
4. The build year is 1994. What does that mean for maintenance?
A home from the 1990s is likely past its major initial systems warranties but is also newer than much of Winnipeg's housing stock. Key components like the roof, windows, and major appliances may be nearing or have recently reached their typical lifespans, so a thorough inspection is advised to anticipate upcoming updates.
5. Why is the assessed value ranking lower than the lot size ranking?
The assessment reflects the current total property value. The high lot ranking shows the land is a premium asset. The lower overall value ranking suggests the assessed value of the structure itself is more modest, which can indicate an opportunity for buyers to add value through updates or simply acquire a premium lot at a relatively accessible price point.