Property Summary: 642 Elmhurst Road, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated Elmhurst bungalow offers a practical and spacious family layout on a large, mature lot. Its key characteristics include a fully finished basement, a good-sized living area of over 1,100 sqft, and the convenience of an attached garage. Built in 1971, it presents a solid opportunity for buyers comfortable with a home of this era, likely appreciating its established neighborhood feel and generous outdoor space.
The appeal lies in its balanced position within the market. It's a home that outperforms the majority of Winnipeg in terms of lot size and recent sale value, suggesting strong underlying value, while its interior space and age are more in line with local averages. This creates a potential "value-add" scenario. It would suit first-time buyers or downsizers looking for a manageable single-story layout without sacrificing yard space, or an investor/renovator who sees potential in updating a structurally sound home on a desirable lot. A thoughtful perspective is that its high city-wide rankings for lot size and past sale price indicate a property that punches above its weight in terms of land value and investment history, which may appeal to the long-term planner.
Section 2: Frequently Asked Questions
1. What is the condition of the major systems (roof, furnace, etc.) given the home's age?
As a 1971 build, the age of key components is a primary consideration. Prospective buyers should prioritize a professional inspection to determine the remaining lifespan of the roof, HVAC, plumbing, and electrical systems.
2. What does the "fully finished" basement entail, and is it permitted?
The finished basement adds valuable living space. It's important to clarify the finish quality, ceiling height, and ensure any significant renovations were completed with the proper city permits to avoid future issues.
3. How does the 2022 sale price relate to the current assessed value?
The home sold for $400,000 in August 2022, which is notably higher than the current $366,000 assessed value. This discrepancy is common and can be influenced by market shifts, specific sale conditions at the time, or the city's assessment methodology. It does not directly dictate the current market price.
4. What are the annual property taxes?
The assessed value of $366,000 is used to calculate municipal property taxes. Buyers should request the current annual tax amount to accurately budget for total homeownership costs.
5. What is the neighborhood vibe and what amenities are nearby?
Elmhurst is a mature community. Buyers may want to explore local parks, schools, shopping, and transit options firsthand to see if the area's character and convenience meet their daily needs.