Property Overview
This 1952-built bungalow at 690 Elmhurst Road presents a distinct opportunity centered on land value and future potential. Its primary appeal lies in its exceptionally large, 10,224 sqft lot, which ranks in the top 6% of all properties in Winnipeg for size. The home itself is modest at 738 sqft of living space, with a finished basement adding functional room. This is a property where the land significantly outweighs the structure, making it ideal for buyers with a vision—whether that's extensive gardening, future expansion, or long-term redevelopment. It would suit an investor, a handy homeowner planning a gradual rebuild, or someone seeking a quiet, spacious setting without a premium price tag. The rankings suggest a home that is average or below in terms of size, age, and assessed value within its immediate area, but it sits on a parcel of land that is far more competitive and rare for the city.
Key Considerations & FAQs
1. How does the large lot size impact the property's value and potential?
The lot is the standout feature, offering privacy and space uncommon in the city. It provides immediate benefits like room for recreation or gardens, and long-term potential for additions like a garage, workshop, or even a new primary residence (subject to zoning and permits).
2. The living space is quite small. What is the layout and condition like?
With only 738 sqft above grade, the home's efficient use of space is crucial. The finished basement effectively doubles the usable area, but the overall feel will be cozy. Buyers should prioritize a viewing to assess the layout's functionality and the condition of the 70+ year-old structure and systems.
3. The assessed value is lower than many area homes. Is this an advantage?
It can be. A lower assessment often translates to lower property taxes, which is a tangible ongoing savings. It also reflects that the current value is driven more by the land than the existing structure, which may align with a buyer's renovation or redevelopment plans.
4. What does the mix of ranking percentiles really tell us?
It paints a clear picture: you are buying a below-average-sized, older house on a well-above-average piece of land. The community rankings show the lot is especially rare for the Elmhurst area, while the house itself is among the smallest and oldest in the neighborhood.
5. Who should probably look at other properties?
Buyers seeking a modern, move-in-ready home with ample interior space from the start may find this property requires too much immediate or future investment. It is best suited for those who see the land as the primary asset and are comfortable with a project, either now or down the road.