3642 Eldridge Avenue

Property Overview

This 1976-built, one-storey home in Elmhurst presents a practical and spacious family offering. Its key appeal lies in the combination of a very large, 8,547 sqft lot and a fully finished basement, providing significant room for living and potential. With 1,209 sqft of living space above grade, it's a manageable single-level layout supplemented by the extra square footage below. The property's competitive rankings are notable: its lot size places it in the top 10% of all Winnipeg properties, and its assessed value ranks within the top 26% citywide, suggesting a strong underlying value proposition for the land and location.

The home would suit buyers looking for a solid, no-fuss bungalow with ample outdoor space for children, gardening, or future expansion. It's particularly suited for those who prioritize lot size over a brand-new home and appreciate the convenience of main-floor living. The fully finished basement adds immediate functional space for a recreation room, home office, or guest suite. From a less obvious perspective, its consistent ranking above average in value for its street, neighborhood, and city indicates it's a competitively positioned asset in its market segment, not just a standalone property. The 2019 sale price provides a clear recent benchmark for value assessment.

Frequently Asked Questions

1. What is the significance of the property rankings provided?
These rankings compare the home's specific metrics (like lot size, age, value) against all other homes on its street, in Elmhurst, and across Winnipeg. For example, ranking in the top 10% citywide for lot size is a major differentiator, indicating exceptional outdoor space.

2. The home was built in 1976. What should I consider regarding its age?
While the structure is 50 years old, the fully finished basement suggests updates have been made. Prospective buyers should focus on the condition of major systems (roof, plumbing, electrical, furnace) and the quality of the basement finish, ensuring it was done properly and is moisture-free.

3. How does the 2024 assessed value relate to the asking price?
The assessed value of $445,000 is for municipal tax purposes and provides a baseline. It ranks higher than 74% of Winnipeg homes, indicating the city sees solid value here. The eventual sale price will be determined by current market conditions, the home's updated condition, and buyer demand.

4. What are the advantages of a lot this size (over 8,500 sqft)?
Beyond ample private yard space, a lot of this scale in a mature neighborhood offers long-term flexibility. It provides room for additions like a deck, shed, or garden, and may have potential for future development (subject to zoning bylaws), adding to its investment appeal.

5. The home last sold in 2019 for $393,000. What does this tell us?
This recent transaction provides a valuable data point, showing the price point at which it last changed hands in a different market. It helps establish a trajectory for the home's market value and offers context for understanding the current assessment and any future asking price.