Property Overview: 147 Woodfield Bay
This well-established two-storey home in Elmhurst offers a practical and comfortable living space on a generous, mature lot. Its appeal lies in its proven stability and efficient use of space, presenting a solid opportunity in Winnipeg's residential market.
Key Characteristics & Suitability
The home's key characteristics include a fully finished basement, a good-sized 1,456 sqft layout, and a large 5,496 sqft lot that provides ample outdoor space. Built in 1978, it is a classic example of a durable family home from that era. Its appeal is grounded in value and space; it offers more interior and exterior square footage than many comparable homes in the wider city, ranking in the top 30-35% in Winnipeg for both lot and living area. The consistent assessment value, which places it above 70% of city homes, suggests a stable and recognized worth.
This property would suit first-time buyers or growing families looking for a move-in-ready home with room to breathe, without the premium of a newer build. It’s also a sensible choice for value-focused buyers who prioritize land size and finished living space over a more modern construction date. A less obvious perspective is its potential for a buyer who appreciates a home with a settled history in a mature neighbourhood, where the landscape and community dynamics are well-established, offering a sense of permanence.
Frequently Asked Questions
1. How does the age of the home (built in 1978) affect its value?
While not new, the home's value is supported by its larger-than-average lot and living space. Its rankings show it competes well on size and assessed value against both newer and older homes city-wide, indicating that these tangible assets offset its age for many buyers.
2. What do the neighborhood rankings indicate?
The rankings show a contrast: the home ranks in the top 35% on its own street for size and value, but falls within the bottom half for similar metrics within the broader Elmhurst community. This suggests it's a strong performer on its specific block, but is situated in a community with many larger or higher-value properties.
3. Is the 2017 sale price relevant today?
The 2017 sale of $370,000 provides a historical benchmark. The current assessed value of $421,000 reflects market changes and municipal valuation over seven years, but the sale price is most useful for understanding long-term ownership patterns rather than setting today's price.
4. What does "fully finished basement" typically mean for a home of this era?
In a 1978 home, this usually means a developed lower level with living space, but it may reflect the styles and materials of its time. It's a valuable functional addition that increases usable space, but a viewing is recommended to assess its current condition and layout.
5. Who might this home not suit?
It may not suit buyers seeking a modern, open-concept layout or those unwilling to consider potential updates that homes from the late 1970s often require. It's also less likely to appeal to investors focused solely on newer properties or those sensitive to higher property taxes that can accompany a higher assessment value.