Property Overview: 705 Laxdal Road
This 1970-built bi-level home in Elmhurst offers a compelling blend of space, location, and value. Its key appeal lies in its generous 7,777 sqft lot—a significant size that ranks within the top 12% of all Winnipeg properties—paired with a practical 1,365 sqft of finished living space including a developed basement. The home presents a solid, grounded opportunity in a mature neighbourhood.
Key Characteristics & Ideal Buyer
The property’s standout feature is its land. The large lot provides ample room for gardening, play, or future expansion, a rarity that offers long-term flexibility. While the house itself is from 1970 and may benefit from modernization, it has been consistently maintained, with a finished basement adding valuable functional space. Its rankings reveal a nuanced position: it excels in lot size and living area within its immediate area but is a more typical offering in terms of age and assessed value for the broader city. This profile suits a practical buyer—perhaps a growing family seeking outdoor space, or a value-oriented purchaser willing to invest sweat equity over time. It’s for someone who prioritizes land and location over turn-key perfection, seeing the potential in a well-situated blank canvas.
Frequently Asked Questions
1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg. For example, being in the "top 12%" for lot size citywide confirms the parcel is exceptionally large, while being newer than only 16% of homes in Elmhurst indicates the neighbourhood has many newer properties, providing context for the home's age.
2. Is the lack of a garage a significant drawback?
For some buyers, yes. It’s an important consideration for vehicle storage and workshop space. However, the large lot does offer the potential to add a garage or shed, subject to local bylaws and permits, which could be a worthwhile investment.
3. The home was built in 1970. What should I be aware of?
While systems like roof, windows, and plumbing may have been updated over the years, a thorough inspection is advised to assess the condition of original components. The bi-level design is functional but may have a style that appeals to those looking for a classic, no-frills layout.
4. How does the assessed value relate to the asking price?
The city's assessment ($394,000) is for tax purposes and reflects a municipal valuation, not necessarily the current market value. It’s a useful benchmark, but the listing price will be determined by recent sales of comparable homes, current market conditions, and the seller's strategy.
5. What is the neighbourhood feel of Elmhurst?
Elmhurst is a well-established, family-friendly community with a mix of older and newer homes. The property’s high lot-size ranking suggests a spacious, less crowded feel on its street, while its middle-of-the-pack rankings for value and age in the community indicate it fits comfortably within the area's norms.