Property Summary: 237 Elmhurst Road
Key Characteristics & Appeal
This is a classic one-storey home in the established Varsity View neighbourhood, built in 1915. Its primary appeal lies in its substantial 8,073 sqft lot, which is significantly larger than most in Winnipeg, placing it in the top 11% of the city for land size. The property features a detached garage and an unfinished basement, presenting a blank canvas for expansion or storage. With a modest 620 sqft of living space and an assessed value of $255,000, it represents a relatively accessible entry point into a desirable area.
The home suits a specific type of buyer: those who value land potential over turn-key living. It’s ideal for an investor, a builder, or a hands-on homeowner with a vision. The appeal isn't the current house, but the opportunity it presents—the chance to build new, expand significantly, or simply own a large piece of a mature community. A less obvious perspective is its appeal to someone seeking a "grounds-first" lifestyle, where the large outdoor space for gardens, recreation, or future projects is the true living area, with the existing house serving as a functional starting point.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Varsity View, and across all of Winnipeg. For example, being in the "top 11%" for land size in Winnipeg means 89% of properties have a smaller lot. Conversely, rankings for living area and age show the current home is quite small and among the older in its immediate area.
2. Is the house in livable condition?
The listing notes an unfinished basement and does not mention recent renovations. Given its age and size, buyers should budget for updates and plan for a thorough inspection to assess the condition of major systems like plumbing, electrical, and the foundation.
3. What can be done with such a large lot?
The lot size offers notable potential. Subject to local zoning bylaws, possibilities could include a significant addition to the existing home, building a new primary residence, or even subdividing the lot if permitted—all of which would require due diligence and city approvals.
4. Why is the assessed value relatively low compared to the lot's appeal?
Municipal assessments typically reflect the current state and size of the dwelling as much as the land value. The modest assessment here aligns with the small, 111-year-old home currently on a valuable piece of land, highlighting the discrepancy between the property's present use and its future potential.
5. What are the immediate next steps for a serious buyer?
A buyer should first verify all development possibilities with the City of Winnipeg's planning department to understand the exact zoning rules and any restrictions. Following this, a detailed home inspection is essential to understand the costs of maintaining or updating the existing structure versus planning for a full rebuild.