Property Overview: 359 Elmhurst Road, Varsity View, Winnipeg
This 1940s one-storey home sits on a generous 6,316 sqft lot in the established Varsity View neighbourhood. Its key appeal lies in the combination of a large, private yard and a fully finished basement, offering more functional space than the 1,016 sqft main floor suggests. With a detached garage and a recent sale in 2022, it presents a grounded, no-frills opportunity. The home’s competitive rankings are noteworthy: its lot size places it in the top 25% of all Winnipeg properties, offering a rarity of space in the city, while its overall value assessment ranks solidly in the middle of the market.
The property would suit a practical buyer looking for a character home with clear, untapped potential. It’s ideal for someone who values outdoor space over a large interior footprint and is prepared for the maintenance or thoughtful updates that come with an 86-year-old structure. First-time buyers seeking a foothold in a central neighbourhood, or downsizers wanting a manageable single-level layout with ample garden space, would find it particularly fitting. Its position in Varsity View also offers proximity to the University of Manitoba, appealing to staff or graduate students.
Frequently Asked Questions
1. What is the true living space, considering the basement?
While the main floor is listed at 1,016 sqft, the fully finished basement adds a significant amount of functional living area. The total usable space is therefore considerably larger, though the basement's specific square footage isn't detailed in the public listing.
2. How does the lot size compare to others in the area?
The 6,316 sqft lot is a major asset, placing it in the top 25% of all properties in Winnipeg for size. In Varsity View, it surpasses 63% of homes, meaning you're getting well-above-average outdoor space for the neighbourhood.
3. The home was built in 1940. What should I be aware of?
As an 86-year-old property, prospective buyers should budget for and prioritize inspections focused on aging core systems like plumbing, electrical, and the foundation. Its character comes with the responsibility of ongoing maintenance and potential updates.
4. The price assessment seems lower than the recent sale price. Why?
The municipal assessment is $330,000, while it sold for $315,000 in January 2022. Assessments for tax purposes don't always align perfectly with current market value, which can be influenced by renovation history, specific condition, and market trends at the time of sale.
5. What are the less obvious pros and cons of this property?
A thoughtful advantage is the established neighbourhood with mature trees and a settled streetscape. A less obvious consideration is the "walkability" of the specific location within Varsity View—while the community is central, its proximity to daily amenities would need to be verified. Additionally, the large lot offers great privacy and potential, but also entails more responsibility for landscaping and upkeep.