Property Overview: 581 Elmhurst Road
This well-situated one-storey home in Elmhurst offers a practical and comfortable living space on a generous, mature lot. Its key appeal lies in the combination of a large, private yard and a fully finished basement, effectively doubling the usable living area beyond the main floor's 1,098 sqft. Built in 1972, the home presents a solid opportunity for buyers seeking space and value in a long-established neighbourhood.
The property would suit first-time buyers looking for a move-in-ready home with room to grow, or downsizers who appreciate single-level living but don't want to compromise on yard space or storage (with its detached garage). Its competitive rankings, particularly outperforming 89% of Winnipeg homes on lot size, highlight its standout outdoor space. A thoughtful perspective for buyers is to consider the value of the finished basement as flexible space—it could serve as a recreation room, separate living area for family, or a dedicated home office, adding significant functional utility not always found in homes at this price point.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The 8,097 sqft lot is a significant feature, ranking larger than 89% of all residential properties in Winnipeg. This offers exceptional outdoor space for gardening, recreation, or future expansions like a deck or shed.
2. What is the condition and style of the finished basement?
The listing confirms the basement is finished, adding valuable living space. Specific details on the finish quality, ceiling height, and layout should be verified through a viewing, as these factors influence how the space can be utilized.
3. Are there any known issues common with homes of this age?
As a home built in 1972, prospective buyers should ensure standard inspections review the condition of major systems like plumbing, electrical, roofing, and the foundation, which may be original or have undergone updates.
4. What is the neighbourhood like for amenities and lifestyle?
Elmhurst is a mature neighbourhood. Its appeal often includes larger lots, tree-lined streets, and established community character. Research nearby schools, transit routes, and shopping to see if it matches your daily needs.
5. Why did the assessed value increase from the 2016 sale price?
The current assessed value of $373,000 is higher than the 2016 sale price of $321,000. This reflects general market appreciation over eight years and specific municipal assessment calculations, which consider various factors. The assessed value is not a market price but a tax calculation basis.