Property Overview: 300 Elmhurst Road, Varsity View, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, well-maintained 1954 bungalow on a generous 5,381 sqft lot in the established Varsity View neighborhood. Its key features include a fully finished basement, a split garage, and a practical 929 sqft main-floor living area. The home’s appeal lies in its solid foundation and prime location, offering a quiet, mature setting with the convenience of nearby university amenities and city access.
It particularly suits first-time buyers or downsizers seeking a manageable, single-story layout without a major renovation project, and investors or builders attracted by the large lot in a desirable area. A thoughtful perspective is its competitive positioning: while the home itself is modest in size and age compared to the broader market, its recent sale price significantly outperformed its assessed value and area rankings, suggesting buyers see strong underlying value in the lot and location that isn't fully captured by the basic metrics.
Section 2: Frequently Asked Questions
1. How does the finished basement affect the living space?
It adds valuable, flexible space beyond the 929 sqft main floor, which is common for bungalows of this era. Buyers should verify the quality and permits of the finish.
2. What do the area rankings actually mean?
They show how this property compares to others in the immediate area. For example, ranking in the top 46% for lot size in Winnipeg indicates a larger-than-average yard, while its age and living area are more typical for the neighborhood.
3. Why did it sell for significantly more than its assessed value?
The recent sale at $400,000, well above the $369,000 assessment, typically reflects strong buyer demand for the specific location and lot, viewing the property's potential as higher than its official valuation.
4. Is the split garage a drawback?
It provides covered parking for two vehicles but with separate doors. This is a period-appropriate feature; some may prefer the convenience of a double door, while others appreciate the architectural character.
5. What is the likely maintenance focus for a 1954 home?
While systems may have been updated, a home of this age warrants a thorough inspection of its core components: roof, foundation, plumbing, and electrical, to plan for ongoing upkeep.