Property Summary: 730 Elmhurst Road
Key Characteristics & Appeal
This is a well-established, two-storey home on an exceptionally large, mature lot in the Elmhurst neighborhood. Its primary appeal lies in the combination of generous indoor and outdoor space. With nearly 1,900 sqft of living area, it ranks in the top 12% for size across Winnipeg, offering ample room for a family. The true standout, however, is the 10,394 sqft property, which places it in the top 5% of all Winnipeg lots for size. This presents a rare opportunity for expansive gardens, recreation, or future expansion.
The home suits buyers looking for a solid, spacious property where the land itself is a major asset. It’s ideal for those who value privacy and room to grow over brand-new finishes, as the house itself is 50 years old and has an unfinished basement ready for customization. Recent sale history shows strong and steady value appreciation, indicating a desirable and stable location. This property would particularly resonate with a practical buyer—someone who sees the unfinished basement not as a drawback but as a blank canvas to add value, and who views the large, established lot as a long-term investment in both lifestyle and equity.
Frequently Asked Questions
1. How does the age of the home affect its condition and costs?
Built in 1976, the home is at an age where some major systems or components (like the roof, windows, or furnace) may be due for inspection, update, or replacement. A thorough pre-purchase inspection is essential to budget for any necessary updates.
2. What are the advantages and considerations of such a large lot?
The lot is a significant asset, offering unparalleled space for activities, gardening, or adding structures like a large shed or deck. Buyers should consider the associated maintenance (lawn care, snow clearing) and verify any local bylaws regarding potential future development or additions.
3. The home recently sold for more than its assessed value. What does this mean?
The March 2025 sale price of $530,000 being above the $465,000 assessed value is common in active markets. It reflects current buyer demand and recent sale prices (comps) rather than the city's assessment for tax purposes, which often lags behind the market.
4. What does the "unfinished basement" entail?
It means the basement space is structurally complete but not developed into living space (e.g., it may have concrete floors and exposed walls/ceilings). This is a key opportunity to add customized living space, a rental suite (subject to permits), or storage, but requires a significant investment to finish.
5. The rankings show the lot size is top-tier, but the build year is less so. How should this be weighed?
This highlights the property's core value proposition: you are primarily investing in the land and location. The house, while spacious, is the older structure on that prized lot. The decision hinges on whether you prioritize the potential of the land and are willing to update or renovate the existing home over time.