Property Overview: 3570 Eldridge Avenue
This well-situated one-storey home in Elmhurst presents a solid opportunity in Winnipeg's market. Built in 1974, its primary appeal lies in its generous, mature lot of over 8,700 sqft—a rarity that offers privacy and space for gardens, play, or expansion. The home itself features 1,120 sqft of living space with a finished basement, providing flexible room for a growing family or hobbies. A split garage adds practical storage.
Its standout characteristic is its competitive positioning within the broader market. While the home is average in size and age for its immediate street, it ranks within the top 20% of its community for lot size and the top 9% city-wide, indicating the property's land value is a significant asset. This combination suits buyers looking for a established neighbourhood feel with room to breathe, potentially appealing to first-time buyers seeking a starter home with land equity, or to downsizers who want a manageable single-level layout without sacrificing outdoor space. It’s a property where the true value may be less in the structure and more in the established, spacious setting it occupies.
Frequently Asked Questions
1. What is the neighbourhood like?
Elmhurst is a mature, established community in Winnipeg. The property's high ranking for lot size within the area suggests it's among the more spacious, private settings in the neighbourhood.
2. Is there potential for future expansion or renovation?
The very large lot provides a notable canvas for potential future additions, like an extension, a large deck, or a shed, subject to city bylaws and permits. The finished basement also adds immediate flexible space.
3. How does the assessment value relate to the asking price?
The municipal assessment is $317,000. It's important to note that assessed value for taxation purposes is a formula and may differ from current market value. A comparative market analysis by a real estate professional is recommended.
4. What should I know about a home from 1974?
While offering solid construction, a home of this age will likely have original or aging components like windows, roof, and major systems (furnace, plumbing). A thorough inspection is crucial to understand the condition and any upcoming capital costs.
5. Why does the ranking for "neighbourhood age" seem low?
The home was built in 1974, which is newer than 76% of homes on its street but older than 76% of homes in the broader Elmhurst community. This simply indicates that much of Elmhurst has newer construction overall, while this specific street has many older homes.