Property Overview
This 1986 two-storey home in Elmhurst sits on a notably large, 10,000 sqft lot, offering a rare sense of space and privacy within the city. Its primary appeal lies in this generous land size, which ranks in the top 6% city-wide, combined with a well-proportioned 2,082 sqft living area. The home presents a solid, move-in-ready canvas with an unfinished basement, providing clear potential for future customization to suit an owner's needs. Recent market activity confirms its desirability, with a July 2024 sale price significantly above its assessed value.
It would best suit buyers who prioritize land over a turnkey modern finish—those looking for a established home in a mature neighbourhood with room to garden, play, or potentially expand. It's an ideal match for families or long-term owners who see value in a property's underlying assets (lot size, location, structure) and are comfortable with the trade-off of an older home that may require updates over time. A less obvious perspective is its strong performance across key metrics; it consistently ranks in the top tiers of its community and the city for lot size, living space, and value, suggesting it's a competitively positioned asset, not just a house.
Frequently Asked Questions
1. How does the recent sale price compare to the assessment?
The home sold for $750,000 in July 2024, which is substantially higher than its current assessed value of $563,000. This typically indicates strong buyer demand for the property's specific attributes, like its large lot, in the current market.
2. What does the "unfinished basement" entail?
The basement is a blank slate with full headroom and the necessary rough-ins (like plumbing and electrical), but the walls, floors, and ceiling are not finished. This is a key opportunity to add living space, a rental suite, or storage, but it requires a planned investment.
3. The house is 40 years old. What should I be aware of?
While the core structure is proven, major systems like the roof, windows, furnace, and air conditioner are at or beyond their typical lifespans. A thorough inspection is crucial to budget for potential near-term updates or replacements.
4. What is the neighbourhood like?
Elmhurst is a mature, established community. The property's rankings show it outperforms 88% of homes in the area for lot size, indicating it's among the larger, more private properties in a desirable neighbourhood.
5. Why is the lot size considered such a key feature?
A 10,003 sqft lot is exceptionally large for Winnipeg, placing it in the 94th percentile. This offers unparalleled outdoor space for recreation, gardening, or future additions like a deck or garage, which is increasingly rare and adds lasting value.