Property Overview: 641 Elmhurst Road
Section 1: Key Characteristics & Appeal
This well-situated 1970s bungalow sits on a generous, mature lot in the Elmhurst neighborhood. Its key features include a fully finished basement, a split garage, and a practical single-story layout with 873 sq ft of living space. The home’s primary appeal lies in its established setting, offering more land (6,886 sq ft) than many newer properties, which provides room for gardening, play, or expansion. Recent data shows it sold for a premium over its assessed value, indicating strong buyer interest.
This property is ideally suited for first-time buyers or downsizers seeking a manageable, single-level home in a mature community. It also presents a solid opportunity for value-conscious investors or handy homeowners who see potential in the sizable lot and are comfortable with a home that offers functional space over modern square footage. A thoughtful perspective is that while the interior living area is modest, the large lot and finished basement effectively expand the usable space, offering a balance of indoor coziness and outdoor potential that isn't always available in newer subdivisions.
Section 2: Frequently Asked Questions
1. How does the recent sale price compare to the home's assessed value?
The home sold for $403,000 in October 2024, which is approximately 18.5% above its $340,000 assessed value. This suggests the market valued its specific lot, condition, and features higher than the municipal assessment.
2. What is the neighborhood ranking for this property?
The home ranks highly for its lot size, placing in the top 18% of all Winnipeg properties. However, its living area is more compact, ranking in the top 84% (meaning 84% of homes are larger). This highlights the trade-off: a larger outdoor space on a mature lot versus a more modest interior footprint.
3. Is the basement included in the 873 sq ft living area?
No, the 873 sq ft refers to the above-ground living area. The home has a separate, fully finished basement, which adds significant additional functional space to the property.
4. What does the "split garage" mean?
A split garage typically refers to a two-car garage that is divided into two separate single-door bays, often side-by-side. This is a common feature in homes of this era and neighborhood.
5. Who might this home not be suitable for?
Given its smaller main-floor square footage and 1970s build, it may not suit buyers looking for a large, open-concept modern layout or those requiring extensive main-floor bedroom space without using the basement. It's best for those who appreciate character and lot size over brand-new finishes and vast interior rooms.