Property Overview: 4917 Eldridge Avenue, Winnipeg
This 1969-built, one-storey home sits on a notably large lot in the Eric Coy neighborhood. Its appeal is rooted in a blend of space, location, and value, having recently sold in August 2024 for $454,000—a figure that outperforms a significant majority of comparable sales across Winnipeg.
Key Characteristics & Buyer Profile
The home's primary asset is its expansive 12,179 sqft lot, which places it in the top 10% for size on its street and the top 3% across all of Winnipeg. This offers exceptional outdoor potential for gardening, recreation, or future expansion. The 1,300 sqft living area is above average for the local area, providing comfortable interior space. While the basement is unfinished and the home's age places it in the older half of area properties, it presents a solid foundation for customization. Its strong recent sale price, significantly above the city's assessed value, indicates a market recognition of its underlying value, likely driven by the lot size and neighborhood demand.
This property would best suit a buyer who prioritizes land over a turn-key, modern home. It's an ideal canvas for someone with renovation or landscaping vision, looking to add value over time. The large lot also appeals to families seeking ample private outdoor space or those considering future additions like a garage, workshop, or garden suite (subject to zoning).
Frequently Asked Questions
1. How does the recent sale price compare to the city's assessment?
The home sold for $454,000 in August 2024, which is approximately 22% above its current assessed value of $373,000. This suggests the market values the property's specific attributes—particularly its lot size—higher than the standard assessment formula might indicate.
2. What does the "ranking" data for the lot size and age actually mean?
The rankings compare this home to others on its street, in Eric Coy, and across Winnipeg. For example, its lot size is larger than 97% of all residential properties in Winnipeg, making it exceptionally spacious. Conversely, its 1969 build date is newer than only 47% of Winnipeg homes, indicating it is older than the median.
3. Is the unfinished basement a drawback or an opportunity?
It depends on the buyer's goals. It means immediate additional living space isn't available, but it also offers a blank slate to finish according to your own needs, budget, and timeline, potentially adding significant value.
4. The home sold recently. Why is it back on the market?
This summary is based on the recorded sale history. The property detail page is likely providing historical price and value context, which is valuable for understanding market trends in the area, even if the home is not currently for sale.
5. What might explain the large jump in value between the 2016 and 2024 sales?
The increase from $343,000 to $454,000 over eight years reflects broader market appreciation, but likely accentuated by the growing premium for large, developable lots within the city. It underscores the enduring value of land in this location.