Property Overview: 614 Elmhurst Road
Key Characteristics & Appeal
This is a well-maintained, single-story home built in 1971 on a generously sized lot of over 7,000 square feet in Winnipeg's Elmhurst neighborhood. Its primary appeal lies in a combination of space, established character, and relative value. The home features a finished basement and a functional layout with 873 square feet of living space above grade. While the living area is modest, the large lot presents significant potential for gardening, expansion, or simply enjoying ample private outdoor space—a feature that becomes increasingly valuable.
The property’s competitive rankings tell a clear story: it sits on a lot size that outperforms 85% of all Winnipeg homes, offering a level of land ownership that is rare, especially for its price point. This is balanced by a home that is comfortable and updated, as evidenced by its recent sale in 2023. It would suit first-time buyers seeking a manageable home with room to grow outdoors, downsizers looking for a single-level layout without sacrificing yard space, or value-oriented investors attracted by the stable rental demand for homes with finished basements in established communities. Its true strength is as a "land-value play" with a liveable house included, appealing to those who see long-term potential in the lot itself.
Frequently Asked Questions
1. How does the large lot size impact costs and responsibilities?
While providing excellent private space, a lot of this size means higher municipal property taxes compared to properties with similar homes on smaller lots. It also entails more yard maintenance, which could be a consideration for time or budget.
2. The home’s living area ranking is low. Does it feel small?
At 873 sqft, the above-ground living space is compact. The finished basement effectively doubles the usable area, making the home feel more spacious than the ranking suggests. The layout and flow will be key factors in how it feels for day-to-day living.
3. What does the 2023 resale indicate about the property?
The sale just one year ago, at a price very close to the current assessed value, suggests the home was in move-in condition and the purchase was likely a lifestyle change by the previous owner, not a distressed sale. It provides a recent, reliable market benchmark.
4. Are there any concerns with the age of the home (55 years)?
As with any home of this era, the major systems (roof, wiring, plumbing, foundation) should be carefully inspected. The positive trade-off is that older neighborhoods like Elmhurst often feature mature trees, settled communities, and larger lot sizes than newer subdivisions.
5. There’s no garage. Is parking or storage an issue?
The property does not include a garage. Buyers would rely on driveway parking and would need to assess storage solutions, potentially utilizing the finished basement or considering the feasibility and cost of adding a shed or future garage structure, for which the large lot provides ample room.