3478 Eldridge Avenue

Property Overview: 3478 Eldridge Avenue

Key Characteristics, Appeal & Target Buyer

This is a classic two-storey home in Elmhurst, built in 1978. Its key characteristics include a fully finished basement, a modest but functional living space of 1,107 sqft, and a generous lot of over 3,300 sqft. The home lacks a garage or pool, positioning it as a straightforward, no-frills property.

Its primary appeal lies in its relative affordability and solid foundation within a mature neighbourhood. The data reveals a thoughtful perspective: while the home ranks in the lower tiers for size and assessed value within its immediate area, it is notably newer than many of its neighbours, ranking in the top 20% on its street for age. This suggests a potentially more modern build quality compared to surrounding homes. The 2022 sale price of $340,000, significantly above the current assessment, indicates a market that has previously valued it higher, possibly due to its updated basement or other factors not captured in raw metrics.

This property would best suit first-time buyers or practical downsizers who prioritize value and lot size over turn-key finishes. It’s for someone who sees potential in the spacious yard and is comfortable with a home that may require some updates, but offers the stability of a finished basement and a structure that is comparatively newer than many in the area.

Frequently Asked Questions

1. How does the finished basement add value?
It immediately increases the usable living space without the need for a major renovation, offering flexibility for a family room, home office, or guest area.

2. What does the lot size mean for me?
At over 3,300 sqft, the lot is larger than many in urban settings, providing valuable outdoor space for gardening, play, or future additions like a shed or deck.

3. Why is the current assessed value lower than the 2022 sale price?
Municipal assessments for tax purposes often lag behind market fluctuations and may not fully reflect specific upgrades or recent sales conditions. The sale price is typically a more accurate reflection of current market value.

4. What are the implications of not having a garage?
Buyers should budget for alternative parking and storage solutions. On-street parking may be necessary, and the lack of sheltered parking is a factor to consider during Winnipeg winters.

5. The home ranks low for size in the area. Is that a concern?
It indicates the home is more compact than many neighbours, which contributes to its affordability. For the right buyer, this means a manageable space with lower utility costs and less maintenance, offset by the larger lot.