Property Overview: 50 Mayfield Crescent
Key Characteristics & Appeal
This 1984-built, four-level split home in Elmhurst sits on a generous 5,508 sqft lot and offers 1,730 sqft of living space. Its key features include an unfinished basement and an attached garage. The property’s primary appeal lies in its space and relative value within a mature neighbourhood. The lot size is notably above average for the street, providing room for gardening, play, or expansion. While the home’s age and unfinished basement mean it may benefit from updates, this also presents a canvas for personalization.
Its rankings reveal a nuanced position: it outperforms most Winnipeg homes in terms of living space and assessed value, suggesting solid fundamentals. However, within its immediate street and community, it ranks more modestly in categories like assessed value and building age, indicating it is a typical, well-established home in the area rather than a standout luxury property. This home would best suit practical buyers—first-time homeowners, families, or value-oriented investors—who prioritize interior space and lot size over a modern, turn-key condition. It’s for those comfortable with a property that has good bones but may require gradual updates to realize its full potential.
Frequently Asked Questions
1. What does the "unfinished basement" mean for me?
It provides significant storage and utility space, with the major systems already in place. The unfinished state allows you to customize it to your needs—whether as a future rec room, home gym, or additional bedrooms—on your own timeline and budget.
2. How should I interpret the property rankings?
They are relative comparisons. For example, ranking in the top 18% of Winnipeg for living space means it’s roomier than most city homes. Conversely, a lower rank on its street for assessed value suggests it’s priced in line with, not above, its immediate neighbours, which can be an advantage for property taxes and future sales.
3. Is a 42-year-old home a concern?
It means major components like the roof, windows, and furnace are likely at or past mid-life. A thorough inspection is essential. The upside is that homes from this era in established neighbourhoods are often solidly built with mature landscaping.
4. Who is the typical buyer in this area?
Elmhurst typically attracts a mix of long-term residents and growing families drawn to stable, no-frills neighbourhoods. This property, with its functional layout and space, fits that profile perfectly.
5. What’s the potential here versus a newer home?
You are trading modern finishes and immediate convenience for more square footage and a larger lot at a likely lower price point. The potential lies in adding value through strategic renovations over time, something often not possible with a new build on a smaller lot.