Property Overview
55 Apex Street is a spacious, well-established home in Elmhurst, offering a blend of generous indoor and outdoor space. Built in 1981, this two-storey home sits on a large 6,240 sqft lot and features 1,827 sqft of living area, including a finished basement. Its appeal lies in its above-average size and established setting, providing room to grow without the premium of a brand-new build. The property's assessed value is $559,000, though it last sold for $673,000 in December 2022, indicating a strong perceived market value.
This home would suit buyers looking for a move-in-ready property with ample space for a family, or those who value a larger yard in a mature neighbourhood. It's particularly well-suited for buyers who prioritize interior square footage and lot size over having a garage or newer construction. The strong rankings in value and size within Winnipeg suggest it offers solid fundamentals for a long-term home.
Key Questions & Considerations
1. How does the 2022 sale price compare to the current assessment?
The home sold for $673,000 in late 2022, which is significantly higher than the current $559,000 assessment. This suggests the assessment may not reflect recent market conditions or specific features that buyers valued at the time of sale. It's a key data point for understanding the property's market history.
2. What are the implications of not having a garage?
The lack of a garage is a trade-off for the large lot. Buyers should consider the cost and feasibility of adding a garage or carport in the future, which the lot size could accommodate, versus relying on street parking or using the basement for storage.
3. The home ranks highly for size but lower for age on its street. What does this mean?
While the home is larger than most in Winnipeg, it's older than many on its specific street. This indicates Apex Street may have a mix of original and newer homes. The appeal here is getting more space for your dollar in an established setting, rather than a newer, potentially smaller home.
4. Is the finished basement included in the 1,827 sqft living area?
Typically, living area (sqft) refers to above-grade space. The finished basement is an additional bonus area, adding functional space for recreation, guests, or storage, which is a significant advantage not fully captured in the main square footage figure.
5. What might explain its high ranking for past sale price?
Ranking in the top 4% in Winnipeg for its last sale price indicates this property commanded a premium. This could be due to the condition at the time of sale, specific upgrades, the desirable lot size, or a particularly competitive market period. It's worth investigating what drove that value.