Property Overview
This 1985-built, two-storey home in Elmhurst offers a classic and practical layout on a generous, nearly 6,000 sqft lot. Its key appeal lies in its established, spacious setting combined with a home that ranks favorably against its peers in several key metrics. With over 1,600 sqft of living space, a finished basement, and an attached garage, it provides solid functional space for a family.
The home’s competitive positioning is its standout feature. It ranks in the top third of Winnipeg homes for lot size, living area, and assessed value, suggesting a property that outperforms many in the broader market. Notably, it ranks highly within its own street for its assessed value, building age, and living area, indicating it is one of the more substantial and modern homes in its immediate vicinity. This combination suits buyers looking for a well-sized family home in a mature neighbourhood, who value space and a sense of relative value compared to neighbours. It would particularly appeal to those who prefer an established property with room to grow or garden, over a newer build on a smaller lot.
Frequently Asked Questions
How does the home’s age affect its condition and potential costs?
Built in 1985, the home is in the phase where major original components (like the roof, windows, or HVAC system) may be nearing or due for replacement. A thorough inspection is crucial to budget for any upcoming updates, though its high ranking for age on its street suggests it may be newer than many nearby homes.
The lot is large, but what is the neighbourhood like?
Elmhurst is a mature, established neighbourhood. The large lot is typical for the area, offering privacy and space. The rankings show the home is on a street and in a community with a mix of older and slightly newer properties, providing a settled, family-oriented environment.
The assessed value is significantly higher than the 2020 sale price. What does this mean?
The current assessment of $521,000 reflects the municipality’s value for tax purposes, influenced by market trends and improvements. The 2020 sale price of $463,000 is a historical data point. The gap highlights strong market appreciation in the period, but the true market value will be determined by current buyer competition.
How meaningful are the provided “rankings”?
They are a useful, high-level tool for comparison. For example, ranking in the top 15% of Winnipeg for assessed value suggests a desirable property from an appraisal standpoint. However, they are statistical comparisons and don’t replace viewing the home in person to judge its specific condition and appeal.
Is the finished basement included in the listed living area?
Typically, municipal living area (the 1,627 sqft listed) does not include below-grade space. The finished basement is therefore additional, flexible square footage, which is a valuable asset for recreation, guests, or a home office, separate from the main living space.