Property Overview: 757 Laxdal Road
This 1970-built, three-level split home in Elmhurst presents a compelling opportunity on a large, 8,136 sqft lot. With 1,157 sqft of living space and a finished basement, it offers functional space for a variety of lifestyles. Its key appeal lies in the combination of a generous, private yard—a rarity in many established neighbourhoods—and a home that ranks highly for its lot size within Winnipeg. While the interior space is modest relative to the property footprint, this balance creates potential for future expansion or outdoor living. The home suits first-time buyers seeking space to grow, downsizers looking for manageable living without sacrificing yard size, or value-oriented investors attracted by the below-average assessed value and the lot's inherent value.
Frequently Asked Questions
1. How does the home's age and condition factor into the value?
Built in 1970, the home is of an era where solid construction is common, but major systems like roof, windows, or furnace may be nearing or due for replacement. The value proposition leans heavily on the land and location, with the house itself likely requiring updates or mindful maintenance.
2. What are the implications of having no garage?
The lack of a garage means all vehicle parking is on the driveway or street. This is a practical consideration for households with multiple cars or those who value protected parking during Winnipeg winters. However, the large lot does provide clear space to potentially add a garage or shed in the future, subject to local bylaws.
3. The rankings show high marks for lot size but lower ones for recent sale price. What does this indicate?
This suggests the property may be undervalued relative to its land, or that the interior condition/updates are factored into the assessment. It highlights a disconnect where the asset (the land) is strong, but the improvements (the house) may be pulling the total value down, which can represent an opportunity for a buyer.
4. Is the finished basement included in the listed 1,157 sqft living area?
Typically, the listed "living area" refers to above-grade square footage. The finished basement is an additional space, providing extra rooms or recreational area but is often not counted in the official living area figure for appraisal purposes.
5. The home last sold in 2018. What should I consider about this?
A six-year ownership period is relatively stable. It's worth investigating what changes, if any, were made during that time. The sale also provides a relevant price point for comparison, though market conditions have shifted significantly since early 2018.