Property Overview: 550 Elmhurst Road
This well-situated 1965 bungalow offers a classic and practical living arrangement on a large, nearly 7,800 sqft lot in the Elmhurst neighborhood. Its key appeal lies in the combination of a single-level layout, a finished basement adding flexible space, and an expansive, private yard that is significantly larger than many in the area. The home’s 1,022 sqft of main-floor living space presents a manageable footprint for easy upkeep.
The property would particularly suit first-time buyers or downsizers seeking a solid, no-fuss home with ample outdoor space for gardening, play, or quiet enjoyment. Its strong ranking for lot size within Winnipeg (top 12%) is a standout, offering a suburban feel within the city. It’s also a fit for value-conscious buyers or those looking for a home with solid fundamentals, who may see potential in personalizing the interior over time. The absence of a garage is a trade-off for the generous yard, positioning this home for those who prioritize outdoor space over vehicle storage.
Frequently Asked Questions
1. What does the "ranking" data mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg. For example, being in the "top 12%" for lot size city-wide means the yard is larger than 88% of properties in Winnipeg, which is a significant advantage.
2. Is the finished basement included in the 1,022 sqft living area?
No. The 1,022 sqft refers to the above-ground, main-floor living space. The finished basement provides additional rooms and living area, which is a valuable bonus to the home's total usable space.
3. The home is older—should I be concerned about major repairs?
Built in 1965, the home is of a vintage where some major components may be nearing or past their typical lifespan. A thorough inspection is advised to assess the condition of the roof, foundation, plumbing, and electrical systems to plan for any future updates.
4. How does having no garage impact daily life and value?
It means relying on driveway parking and having no dedicated workshop or storage space for vehicles, tools, or seasonal items. For some buyers, the trade-off for a larger yard is worthwhile; for others, it's a significant drawback. It's a key factor to consider relative to your lifestyle.
5. Why is the assessed value lower than similar listings I might see?
Municipal assessments for tax purposes often lag behind current market values and use a mass appraisal system. The assessed value is a useful benchmark, but the final sale price will be determined by recent comparable sales, condition, and current market demand.