Property Overview: 79 Elmvale Crescent
Key Characteristics & Appeal
This is a substantial, well-established property in Southboine, Winnipeg, built in 1991. Its primary appeal lies in its generous scale and prime lot. The home itself is a spacious 2,637 sqft bungalow with a finished basement, offering single-level living. The standout feature is the exceptionally large, nearly half-acre lot (19,350 sqft), which is rare for the city and places it in the top 2% of Winnipeg properties by land size. With a detached garage and no pool, the yard presents a blank canvas for gardening, recreation, or future expansion.
The home’s competitive rankings are noteworthy. It consistently places in the top tiers of its street, neighborhood, and city for lot size, living area, and assessed value (currently $929,000), indicating a property that outperforms most of the market on key metrics. The 2019 sale price of $620,000 provides a clear benchmark for its appreciation trajectory.
This property would best suit buyers looking for long-term stability and space over modern finishes. It’s ideal for a family seeking room to grow outdoors, someone interested in landscaping or gardening on a grand scale, or a buyer who values the privacy and potential that a large lot in the city affords. It’s a home for those who see the land itself as a primary asset.
Frequently Asked Questions
1. What is the neighborhood like?
Southboine is a mature, established neighborhood in Winnipeg. The property's high rankings within the community suggest it is among the larger and more valuable homes in the area, typically indicative of a quiet, settled setting.
2. Is the basement included in the square footage?
Typically, the listed living area (2,637 sqft) refers to above-grade space. The basement is noted as finished, meaning it provides additional living space, but its square footage is likely not included in the main figure.
3. How does the current assessment compare to the 2019 sale price?
The assessed value of $929,000 is significantly higher than the 2019 purchase price of $620,000. This indicates strong market appreciation over five years, but the assessment is for municipal tax purposes and may differ from the current market value.
4. What does the "ranking" data mean?
The rankings show how this property compares to others. For example, being in the "top 2%" for lot size in Winnipeg means only 2% of properties have a larger lot. It's a quick way to see the home's relative strengths in the market.
5. What are the implications of such a large lot?
While offering exceptional privacy and space, a lot of this size (over 19,000 sqft) may entail higher maintenance, landscaping costs, and property taxes compared to standard city lots. It also represents a significant portion of the property's overall value and appeal.