Property Overview: 30 Epsom Crescent
This one-storey home in Elmhurst presents a compelling opportunity centered on space and established value. Its primary appeal lies in the exceptionally large, 12,296 sqft lot, which places it in the top 3% of all properties in Winnipeg for land size. Built in 1968, the 1,272 sqft bungalow features a finished basement and an attached garage. While the house itself is of average size for the area, the property's standout characteristic is its generous, private outdoor space in a mature neighborhood. Current assessment values the property at $448,000.
This home would suit buyers looking for a long-term family home with room to grow, garden, or play, and who value land over a newly built structure. It’s also a solid candidate for those with future renovation or expansion plans, given the ample lot size. The strong rankings for lot size and assessed value against city-wide comparables suggest a property with inherent stability and upside potential in its land asset.
Key Considerations & FAQs
1. What does the "ranking" data actually mean?
The rankings compare this property to others on its street, in Elmhurst, and across all of Winnipeg. For example, being in the "top 3%" for lot size in Winnipeg is a significant advantage, indicating rare outdoor space. Conversely, the lower ranking for the building's age simply confirms it's an older, mature home in an established area.
2. The house seems modest for such a large lot. Is there potential to expand?
The bungalow style and substantial lot certainly create potential for additions, a garage expansion, or building a detached structure (subject to city zoning bylaws and permits). The large yard is the property's blank canvas.
3. How does the 2017 sale price relate to today's value?
The $390,000 sale seven years ago and the current $448,000 assessment offer a general trajectory. However, market conditions have evolved. A key point is that the assessed value now ranks higher (top 26% in Winnipeg) than the past sale price did at its time (top 37%), suggesting the property's relative market position has strengthened.
4. Is an older bungalow with a finished basement a concern?
It requires a pragmatic inspection. The finished basement adds liveable space, but a thorough check of the foundation, plumbing, electrical updates, and moisture management is essential for a 58-year-old home. The quality and permits of the basement finish should be verified.
5. Who would this property NOT suit?
It may not fit buyers seeking a modern, move-in-ready home without any projects, or those who prefer a low-maintenance, small-yard lifestyle. The appeal here is directly tied to utilizing and maintaining a large piece of land and an older, solid home.