Property Overview
This one-storey home in Elmhurst presents a compelling opportunity for a specific type of buyer. Built in 1967, its key characteristics include a fully finished basement, a split garage, and a notably large lot of over 7,200 square feet. With 1,298 sqft of living space and an assessed value of $420,000, it sits in a unique position within the market.
The primary appeal lies in its balance of space and value. The expansive lot is a significant asset, offering rare potential for gardening, expansion, or simply enjoying generous outdoor space in a mature neighborhood. The home’s rankings reveal a nuanced story: while its age places it among the older homes in the area, it competes very favorably in terms of lot size and overall value across Winnipeg, outperforming 85% and 69% of properties respectively. This suggests you are paying more for the land and location than for a modern structure.
This property would best suit a practical buyer who values space over newness. It’s ideal for someone looking for a solid, single-level layout in a well-established community, who sees the large yard as a key feature and is potentially comfortable with the maintenance or update projects common to homes of this era. It’s less suited for those seeking a turn-key, contemporary home.
Frequently Asked Questions
Q: How does the age of the home impact its value and appeal?
A: The 1967 build date means it's among the older homes in its immediate area. This often translates to classic, sturdy construction and mature landscaping, but buyers should budget for potential updates to systems like plumbing or electrical. The appeal is in the character, lot size, and location rather than modern finishes.
Q: The lot is large, but what does that mean practically?
A: A 7,278 sqft lot is significantly above average. This provides exceptional private outdoor space, potential for additions like a shed or deck, and more distance from neighbors. It's a major asset for families, gardeners, or anyone wanting room to breathe.
Q: The home ranks highly for value in Winnipeg but lower in its own neighborhood. What does this indicate?
A: This suggests the property is a strong value proposition compared to the wider city, likely due to its lot size. Within Elmhurst, it may be surrounded by slightly larger or more updated homes, positioning it as a potentially more affordable entry point into a desirable community.
Q: Is the finished basement included in the listed living area?
A: No, the 1,298 sqft living area refers to the above-ground footprint. The finished basement provides additional, flexible space that is a valuable bonus but is calculated separately.
Q: The last sale was in 2019 for $370,000. How relevant is that price today?
A: It shows historical context and the owner's purchase point, but market conditions have shifted significantly since 2019. The current $420,000 assessment is a more relevant, though not definitive, indicator of its municipal valuation for tax purposes. The final market price will be determined by current demand, condition, and comparable sales.