Property Overview: 76 Epsom Place
Key Characteristics & Appeal
This 1981-built, one-storey home in Elmhurst sits on a generous 7,390 sqft lot, offering above-average outdoor space for the area. With 1,366 sqft of living space and a finished basement, it provides practical, single-level living. Its standout feature is its significant financial appreciation; the current assessed value of $578,000 is notably higher than its 2017 sale price of $350,000, indicating strong market growth. The property ranks highly for its lot size, assessed value, and relative newness within its immediate street, suggesting it is a premium offering in its local context.
The appeal lies in its established, quiet neighbourhood and the potential of a large lot—ideal for gardening, expansion, or simply enjoying private outdoor space. It would suit practical buyers looking for a manageable single-storey layout, possibly downsizers or young families seeking a stable community. A thoughtful perspective is that while the home itself is of average size for Winnipeg, its superior lot size and high assessment value point to a property that derives significant worth from its land and location, making it a solid long-term holding rather than just a structure.
Potential Buyer FAQs
1. What does the high assessed value relative to the last sale price indicate?
It primarily reflects significant market appreciation over the past several years and the city's assessment of its current market value. It sets a baseline for property taxes but doesn't guarantee a specific sale price.
2. Is the finished basement included in the 1,366 sqft living area?
Typically, the listed living area refers to above-grade square footage. The finished basement is an additional bonus space, adding functional room beyond the main floor.
3. The home is newer than many on the street. What are the implications?
This can mean fewer immediate concerns with aging core components (like roofing or windows) compared to much older homes, potentially reducing near-term repair costs.
4. How meaningful are the provided "rankings"?
They are useful for quick, at-a-glance comparisons within the street, neighbourhood, and city for specific metrics like lot size or age. They confirm this property is a top contender on its street for lot size and value.
5. What might explain the very high assessment ranking but more moderate rankings for size and age?
It suggests the property's value is driven by a combination of factors beyond just square footage or newness—likely its large lot, specific location on the street, condition, and improvements made since its last sale.