Property Overview: 51 Apex Street
This 1983-built, one-storey home in Elmhurst presents a practical and spacious family offering. Its key appeal lies in the combination of a large, 6,240 sqft lot with a fully finished basement, providing ample room for living and recreation. With 1,384 sqft of living space, an attached garage, and a recent sale price of $485,000 (May 2024), it represents a solid value in the Winnipeg market. The home’s competitive rankings are noteworthy: it sits in the top 26% of Winnipeg for lot size and the top 22% for assessed value, indicating a property that outperforms many of its peers on key metrics. However, its interior living space is more average, ranking in the top third citywide.
The property would suit buyers looking for a established home in a mature neighbourhood, prioritizing yard space and finished living area over a newer build or a premium street ranking. It’s a fit for families or those who value the potential of a large lot for gardening, play, or future projects, and who appreciate the immediate utility of a move-in ready basement.
Frequently Asked Questions
1. How does the property’s age affect its value?
Built in 1983, the home is well-established. While some systems may be due for updates, its age is reflected in the price and offers the potential for customization. It ranks newer than 65% of Winnipeg homes, which is a positive relative standpoint.
2. What do the ranking percentages actually mean for daily living?
They indicate how the property compares to nearby homes. For instance, ranking in the top 26% of Winnipeg for lot size means you get more outdoor space than most city properties. Conversely, its middle-of-the-pack ranking within its own street for living space suggests the homes on Apex Street are generally quite spacious.
3. Is the recent sale price a good indicator of current value?
The May 2024 sale at $485,000, close to its $470,000 assessed value, provides a very current and reliable market benchmark, suggesting stable value in the area.
4. What is the significance of the fully finished basement?
It immediately adds functional living space without the need for a major renovation. This is a significant advantage for growing families or those wanting separate recreational, home office, or guest areas from day one.
5. The home ranks highly citywide but lower within its immediate community. What does this suggest?
This pattern indicates Elmhurst is a neighbourhood of generally larger, valuable properties. While the home excels compared to the entire city, it faces stiffer competition from its direct neighbours, which is useful context for understanding the local streetscape and potential for future value growth relative to the area.