Property Overview & Appeal
This two-storey home on a large, 5,890 sqft lot in Elmhurst offers a classic and practical living space. Built in 1979, its key characteristics include a generous 1,791 sqft of living area and a finished basement, providing ample room for a family. While it lacks a garage or pool, its appeal lies in its established neighbourhood setting and its strong performance as a tangible asset. Recent sale prices have significantly exceeded its assessed value, indicating high buyer demand and a competitive market history for this specific home.
It would suit buyers looking for a move-in ready, no-fuss family home in a mature area, particularly those who value private outdoor space over attached parking. It also presents a compelling case for value-conscious buyers who pay attention to market momentum, as the consistent premium paid at sale suggests a property that holds its worth well in its peer group. A less obvious angle is its potential appeal to those wary of newer, tightly packed subdivisions, as it offers the space and character of an older community.
Frequently Asked Questions
1. Why is the recent sale price so much higher than the city’s assessed value?
Property assessments are for taxation purposes and often lag behind rapid market movements. The consecutive sales at a premium indicate strong, market-driven buyer competition for this home and its specific attributes.
2. What does the "ranking" data for the street, community, and city mean?
These rankings compare this home against others in its immediate area and citywide on metrics like size, age, and value. For example, being newer than 78% of homes on its street is a positive, while being larger than 84% of all Winnipeg homes highlights its above-average living space.
3. Is the lack of a garage a significant drawback?
This depends on buyer priorities. For some, it’s a major inconvenience. For others, the large lot may offer room to add a shed or future garage, and the trade-off for more house and yard space at this price point is acceptable.
4. The home is 47 years old. What should I be mindful of?
While the finished basement suggests updates, a home of this age will have core systems (like roof, windows, plumbing, and electrical) that are likely original or nearing the end of their service life. A thorough inspection is essential to budget for any upcoming maintenance.
5. It sold very recently in 2023 and again in 2024. Is this a concern?
Not necessarily. The quick resale could be due to many neutral life events (relocation, change in family size). Crucially, the stable sale price between the two transactions suggests the property wasn’t flipped after a quick renovation, but rather held its market value consistently.