Property Overview: 787 Elmhurst Road
This well-established 1972 bungalow sits on a generous 7,407 sqft lot in Winnipeg's Elmhurst neighborhood. With 1,232 sqft of living space, a finished basement, and a detached garage, it presents a classic and practical family home. Its appeal lies in its established setting, solid footprint, and recent market activity—having sold in August 2022 for $380,000, it now carries a municipal assessment of $402,000. The home’s competitive rankings suggest it offers above-average value in lot size and overall assessment value for the city, though it is a more typical offering within its immediate community. This property would suit first-time buyers looking for a move-in-ready starter home, or downsizers seeking single-level living with ample outdoor space and a quiet, mature neighborhood feel. A thoughtful perspective is that while the home is not new, its recent sale provides a clear, modern benchmark for its value, offering a degree of pricing transparency that can be reassuring in a shifting market.
Frequently Asked Questions
1. How does the 2022 sale price relate to the current assessed value?
The home sold for $380,000 in August 2022. The current municipal assessment is $402,000. Assessments are for tax purposes and reflect a mass appraisal model; they are a data point but not a direct indicator of current market value.
2. What is the significance of the provided rankings?
The rankings show how this property compares to others in its immediate street, broader neighborhood, and all of Winnipeg for key metrics. For example, its lot size ranks in the top 14% city-wide, indicating a larger-than-average yard, while its building age is more common, ranking in the middle of the pack.
3. What does "ONE STOREY" building type mean?
This indicates the home is a bungalow, with all primary living areas on one level. This is often appealing for accessibility and ease of living, though total square footage includes the finished basement space.
4. Is the basement included in the 1,232 sqft living area?
Typically, municipal living area (square footage) refers to above-grade space. The 1,232 sqft likely refers to the main floor. The basement is listed separately as "finished," adding additional usable space to the property.
5. What can the neighborhood rankings tell a potential buyer?
The rankings suggest Elmhurst is an established, stable area. The fact that this home's value and size rank solidly within the community (e.g., surpassing 66% of homes for lot size) indicates it's a competitive property in its local context, not an outlier.