Property Overview
This 1979-built, one-storey home on a large 8,127 sqft lot in Elmhurst presents a specific and compelling value proposition. Its key appeal lies in the substantial, private lot—a rarity that ranks in the top 15% of its street—offering significant outdoor space and potential. The home itself is modest at 1,050 sqft with a finished basement, positioning it as a functional, move-in-ready canvas. Its strong overall rankings for lot size and assessed value within Winnipeg suggest a property that is competitively priced for what it offers, particularly the land.
This property would suit practical buyers who prioritize land over lavish interiors, such as first-time homeowners looking for a foothold in a stable neighborhood, or downsizers seeking single-level living with ample garden space. It also holds quiet appeal for those with a long-term view, as the large lot represents future potential for expansion, gardening, or outdoor enjoyment that is increasingly hard to find.
Frequently Asked Questions
1. How does the age of the home (built in 1979) affect its condition and potential costs?
While the home is nearly 50 years old, its assessed value ranks well above average for Winnipeg. This suggests the systems and structure are likely in sound, functional condition. Buyers should still budget for updates consistent with a home of this era, such as roofing, windows, or mechanical systems, but the solid ranking indicates it has been maintained competitively for its age.
2. The living space is ranked lower than the lot size. Is the house too small?
The 1,050 sqft footprint is indeed more modest compared to the generous lot. This isn't necessarily a drawback but a clear characteristic: you are primarily investing in the land and location. The finished basement adds functional space. It's an ideal layout for those who live simply or spend much time outdoors, but may feel cramped for those needing extensive indoor living areas.
3. What does the "finished basement" entail, and is it included in the living area square footage?
The details specify a basement that is finished, meaning it has livable space (likely as a rec room, extra bedrooms, or utility area). Typically, below-grade square footage is not counted in the official 1,050 sqft living area figure, so this basement provides valuable additional functional space not reflected in that main number.
4. The lot is large, but what is the neighborhood and street like?
The property holds strong rankings within its specific street and the broader Elmhurst community for lot size and value, indicating it is situated in a desirable part of that area. Being in the top 15% of its street for lot size suggests a premium, spacious feel on that particular block.
5. Why is there such a difference between the lot ranking (top 11% in Winnipeg) and the living area ranking (top 64%)?
This disparity is the defining feature of this property. It highlights that you are acquiring a land parcel that is larger than almost 90% of properties in the city, with a home that is functionally adequate but not oversized. The value is weighted toward the long-term asset of the land rather than the size of the current structure.