Property Overview: 71 Woodstock Lane
Key Characteristics & Appeal
This 1979-built, one-storey home in Elmhurst sits on a generous 6,310 sqft lot and offers 1,028 sqft of living space with a finished basement. It features an attached garage and no pool. Its core appeal lies in its established, quiet neighbourhood and the value derived from its significant lot size and recent, comprehensive renovations. The home is move-in ready with modern updates, eliminating the immediate need for major projects.
The property’s standout strength is its exceptional ranking within its immediate locale. It outperforms 93% of homes on its own street for lot size and 97% for being a newer build on the block, indicating a premium position in a mature area. This creates a unique blend of a settled community feel with a home that has been contemporized. It would suit first-time buyers seeking a ready-to-live-in home without the hassle of updates, or downsizers looking for single-level living on a private, low-maintenance yard. The strong lot-size ranking also offers latent value for those who appreciate outdoor space or future potential.
Frequently Asked Questions
1. How does the finished basement affect the living space?
The finished basement adds flexible living area to the 1,028 sqft main floor, which could be used as a family room, home office, or guest space. It’s important to clarify the ceiling height and whether it includes a proper egress window.
2. The home is newer than most on the street. What does this mean for maintenance?
While the structure is from 1979, placing it among the newest 3% on the street, key systems like the roof, furnace, and windows will be at a stage where their age and condition should be verified. The recent renovations likely address interior finishes, but major components may still be original.
3. The lot is large, but what is the backyard like?
A 6,310 sqft lot is spacious for the area. It’s worth viewing the property to see how the space is configured—whether it's private, sunny, and usable, or if the size is primarily in the frontage or side yards.
4. How does the community ranking affect value?
While the home ranks highly on its specific street, its rankings within the broader Elmhurst community are more moderate. This suggests you are buying one of the better properties on a desirable street, which can be a stabilizing factor for value, even if the wider neighbourhood is more varied.
5. What’s the significance of the assessment value versus the asking price?
The municipal assessment is $397,000, which places it in the top third of Winnipeg homes. This is a baseline for property taxes. The listing price will reflect current market conditions, the quality of renovations, and the premium for its top-tier street position, so it may differ from the assessed value.