Property Overview: 721 Elmhurst Road
Key Characteristics & Appeal
This is a classic, one-storey home on an exceptionally large, half-acre lot in Winnipeg's Elmhurst neighborhood. Built in 1969, the 1,078 sqft house presents a solid foundation with an unfinished basement, offering functional living space and significant potential for customization. The property's defining feature is its land: at nearly 22,000 sqft, the lot size ranks in the top 1-2% of all properties in Winnipeg, providing remarkable privacy and space rarely found within the city.
The primary appeal lies in this unique combination of a manageable single-level home and a vast, blank-canvas yard. It suits two main types of buyers: first, those seeking a long-term family home where the value is in the land itself, allowing for future expansions, gardens, or recreational space. Second, it is an ideal candidate for builders or savvy investors looking for a prime lot with an existing structure, where the ultimate value may be realized through significant renovation or redevelopment. The recent sale price suggests it was acquired with this potential in mind. It’s a property where the house represents a good starting point, but the true asset is the land it sits on.
Frequently Asked Questions
1. What does the "ranking" data mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg. For example, its lot size is in the 99th percentile city-wide, meaning it's larger than 99% of properties, while the house itself is newer and larger than about 40-60% of comparable homes, indicating the structure is average but the land is exceptional.
2. Is the unfinished basement a drawback?
Not necessarily. While it requires investment to finish, it provides flexible, low-cost storage and mechanical space as-is, and allows a new owner to customize it to their exact needs without first demolishing old work.
3. Who would this property not suit?
Buyers seeking a modern, turn-key home with no immediate projects. This property appeals to those comfortable with a home that may require updates and who see greater value in the long-term potential of the land than in immediate high-end finishes.
4. The lot is huge. Are there any restrictions on what I can build?
You should always verify with the City of Winnipeg's Planning Department. A lot of this size often has fewer constraints for additions or outbuildings than a standard lot, but specific zoning bylaws and setback requirements will still apply.
5. Why did it sell recently, and is it being flipped?
It sold in December 2023. The current listing so soon after purchase often indicates an investor or builder who acquired it for its potential. It presents an opportunity for a new owner to either execute their own vision or benefit from the previous buyer's work in securing the property.