Property Summary: 74 Apex Street, Elmhurst, Winnipeg
Section 1: Key Characteristics & Appeal
This well-established 1983 bungalow sits on a generous, mature lot of over 7,800 sqft in the Elmhurst neighbourhood. Its key features include a fully finished basement, an attached garage, and a spacious 1,743 sqft of living area. The appeal lies in its proven stability and above-average rankings across several metrics for the area. It offers more land than 93% of homes on its street and its overall assessed value sits higher than 88% of all Winnipeg properties, suggesting a solid, desirable footprint. The home suits buyers looking for a move-in ready, single-story layout on a large, private lot, ideal for gardening, outdoor living, or future expansion. It’s a strong match for those who value space over newness, and who appreciate a home in a mature community with established infrastructure and a track record of value retention.
Section 2: Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in its immediate area. For example, ranking "better than 93% of homes on its street" for lot size means it has one of the largest parcels on Apex Street, a key advantage for privacy and outdoor space.
2. The house is over 40 years old. What should I consider?
While the structure is mature, the fully finished basement indicates previous updates. A pre-purchase inspection is always advised to understand the condition of major systems like roof, plumbing, and foundation, common considerations for homes of this era.
3. Is the lot size a potential for future value?
The nearly 8,000 sqft lot is a significant asset. Beyond personal enjoyment, it could be a long-term value driver in a neighbourhood where such large plots are becoming rarer, potentially allowing for additions or landscaping features that smaller lots cannot accommodate.
4. How does the assessment value relate to the likely selling price?
The municipal assessment of $541,000 is for tax purposes and is a historical snapshot. Market conditions, recent comparable sales, and the home's specific condition will ultimately determine the sale price, which may be higher or lower.
5. Who would this home not be ideal for?
It may not suit buyers seeking a brand-new, low-maintenance property or a modern open-concept layout typical of newer builds. Those prioritizing being in the very newest homes (it's newer than only 65% of Winnipeg) or wanting a turn-key renovation might look elsewhere.