Property Summary: 522 Elmhurst Road, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home in the Elmhurst neighborhood, built in 1962. Its primary appeal lies in its generous, mature lot of over 10,700 sqft—a significant and increasingly rare find that places it in the top 5% of all Winnipeg properties for land size. The home itself is modest in size at 1,167 sqft, featuring a finished basement and an attached garage. While the structure is older, the property’s standout value is clearly its land, offering substantial outdoor space, privacy, and potential.
The home suits two main types of buyers. First, it’s ideal for a practical buyer who values space and location over a modern turn-key home—someone comfortable with a property where the land is the primary asset and who may have plans to update the dwelling over time. Second, it could appeal to a long-term investor or builder who recognizes the underlying value of such a large lot in a mature neighborhood, seeing it as a future development opportunity or a hold-for-potential property.
A less obvious perspective is the home’s positioning within its immediate area. While its lot size ranks exceptionally high city-wide, the house itself is more average for the street and neighborhood in terms of living space and assessed value. This suggests a property that offers a "best of both worlds" scenario: the premium feel of a large estate-like yard without the premium price tag of a fully renovated or much larger home on the same plot.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg. For example, its land size is in the top 5% city-wide, meaning it’s larger than 95% of properties. Conversely, its 1962 build year is newer than only 5% of homes in Elmhurst, indicating a neighborhood with many newer homes.
2. Is the house in original condition?
The listing confirms a finished basement, but no specific renovations to the main living areas are detailed. Given the age, buyers should anticipate elements typical of a home from the 1960s and budget for potential updates to systems, kitchen, or bathrooms.
3. What can you do with such a large lot?
The lot offers exceptional outdoor living potential for gardens, play areas, or recreation. It also provides room for significant additions, a detached workshop, or, subject to zoning, future redevelopment. The sheer size is a major asset for privacy and flexibility.
4. Why is the assessed value relatively moderate given the lot size?
Municipal assessments consider the house and land together. The moderate total assessment reflects the balance between the high land value and the older, modest-sized dwelling. This often creates an attractive value proposition for buyers.
5. What is the Elmhurst neighborhood like?
Elmhurst is a mature Winnipeg community. The data shows this street has a mix of older and newer homes, with this property’s lot size being a standout feature. Prospective buyers should explore the area to assess its specific character and amenities.