Property Summary: 46 Elmvale Crescent
Section 1: Overview & Appeal
This is a well-situated, classic one-storey home in Southboine, Winnipeg, built in 1977. Its key characteristic is a generous 6,086 sqft lot, which is significantly larger than most in the area, offering ample outdoor space for gardening, play, or future expansion. The home itself is 1,316 sqft with an unfinished basement, presenting a straightforward layout typical of its era. It includes a connected garage.
The primary appeal lies in its land value and location within a mature neighbourhood. The lot size ranks in the top 29% city-wide, a rare find that provides privacy and potential. While the house ranks lower in size and assessed value within its immediate area, this creates an opportunity for buyers looking for a property where the land is the principal asset. It would suit a practical buyer—perhaps a downsizer seeking single-level living with outdoor space, or a renovator/investor who sees the value in the substantial lot and is comfortable with a home that may require updates. It’s a property for those who prioritize long-term land value and location over immediate move-in perfection.
Section 2: Frequently Asked Questions
1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in Southboine, and across all Winnipeg. For example, its lot size is in the top 29% city-wide (a high ranking), while its living area is in the bottom 38% (a lower ranking). This highlights the property's strengths and trade-offs at a glance.
2. Is the unfinished basement a drawback or an opportunity?
It depends on the buyer. It requires investment to finish, but it also provides a blank canvas for creating additional living space, storage, or utilities without needing to undo previous work.
3. The assessed value seems low for the area. Why?
The assessment considers the home's age, size, and condition. The lower ranking suggests the house itself may be more modest or dated compared to neighbours, which is reflected in the official valuation. This can influence property taxes and the purchase price.
4. Who would this property not suit?
It may not suit buyers seeking a modern, turn-key home with ample finished space, or those unwilling to consider future renovations or basement development.
5. How significant is the 49-year-old building age?
It places the home in a mature stage where major components (like roof, windows, HVAC) may be at or beyond their typical lifespan. A thorough inspection is essential to understand the condition and plan for potential updates, which should be factored into any offer.