Property Overview: 331 Elmhurst Road, Varsity View, Winnipeg
This 1956-built, one-storey home sits on a generous 5,379 sqft lot in the established Varsity View neighbourhood. Its key appeal lies in its solid foundation and location, offering a classic, low-maintenance footprint with a fully finished basement and a detached garage. The 717 sqft living area is compact, suggesting an efficient layout suitable for downsizers, first-time buyers, or investors. Its relative value is highlighted by the fact that, while the home's size and age rank in the lower tiers locally, its assessed value ranks higher than over a third of all Winnipeg homes, indicating the underlying worth of the land and location. This property suits a practical buyer who prioritizes a mature neighbourhood, a sizable lot with potential, and a move-in-ready home without the scale or upkeep of a larger modern house. It’s a straightforward opportunity in a sought-after area, where the value may be more in what you can do with the property over time than in its current specifications.
Frequently Asked Questions
1. What is the neighbourhood like?
Varsity View is a central, mature neighbourhood known for its tree-lined streets and proximity to the University of Manitoba. It offers a quiet, established community feel with convenient access to amenities.
2. Is the basement included in the 717 sqft living area?
No, the 717 sqft figure refers to the above-ground living space. The home also features a fully finished basement, which provides additional usable square footage.
3. What does the lot size allow for?
At over 5,000 sqft, the lot is a significant asset. It provides ample outdoor space for gardening, recreation, or future expansion, subject to local zoning and permit approvals.
4. How should I interpret the ranking data?
The rankings compare this property to others on its street, in Varsity View, and across all of Winnipeg. For example, ranking higher than 54% of Winnipeg homes for price/value suggests it is positioned in the middle of the market, while its lower rankings for size and age confirm its status as a smaller, older character home.
5. What are the main considerations for maintenance?
As a home built in 1956, a prospective buyer should budget for and investigate the age and condition of major systems like the roof, plumbing, and electrical, which may be due for updates or replacement.