Property Overview: 38 Epsom Crescent, Winnipeg
Section 1: Key Characteristics & Appeal
This 1968-built bi-level home in Elmhurst offers a classic Winnipeg living proposition centered on space and location. Its primary appeal lies in its generous 7,701 sqft lot, which places it in the top 12% of all Winnipeg properties for land size. This provides significant outdoor space for gardening, recreation, and future expansion, a rare find in the city. The home itself is modest in size at 988 sqft of living space with a finished basement, suiting buyers looking for a manageable footprint without sacrificing yard space.
The property’s strong recent sale price, which outperforms 75% of Winnipeg homes, reflects a desirable location within a mature neighborhood. It particularly suits first-time buyers or downsizers seeking a stable community with room to breathe, and value-oriented investors or renovators who see potential in the substantial lot relative to the home’s size. A thoughtful perspective is that this property represents a balance: you’re investing more in the land—a lasting asset—than in the existing structure, which offers flexibility for personalization or future updates.
Section 2: Frequently Asked Questions
1. What does the "bi-level" design mean for daily living?
A bi-level typically features a short staircase leading to the main living areas (kitchen, living room) and another leading down to additional bedrooms and the finished basement. It creates a sense of separation between living and sleeping zones, but may involve more stairs than a bungalow.
2. The home ranks lower for "newness" and living area size. Is this a concern?
These rankings confirm it’s a classic, older home on a large lot. The appeal isn’t modern square footage, but the potential of the property itself. Buyers should budget for expected maintenance on a 58-year-old home and see the interior as a canvas.
3. Why is the lot size considered such a key advantage?
A lot of this scale (over 1/6 of an acre) in a established city neighborhood is increasingly uncommon. It offers privacy, space for additions like a garage or deck, and simply more room for outdoor activities compared to newer subdivisions.
4. The assessed value is lower than the recent sale price. What does this indicate?
Municipal assessments often lag behind the current market. The recent sale at $452,000 is a stronger indicator of the property’s market value, suggesting buyers see value beyond the official assessment, likely in the desirable lot and location.
5. There's no garage. How feasible would it be to add one?
With such a large lot, adding a garage or carport is likely very feasible from a space perspective. Buyers should investigate specific zoning bylaws, setback requirements, and associated costs as a next step.