414 Elmhurst Road

Property Overview: 414 Elmhurst Road, Varsity View, Winnipeg

Key Characteristics & Appeal

This is a well-situated, single-storey home built in 1964 on a notably large, mature lot of over 7,600 square feet in the established Varsity View neighbourhood. The home offers 1,137 square feet of living space with a finished basement. Its primary appeal lies in a combination of location and land value. The property ranks in the top 13% of all Winnipeg homes for lot size, offering significant outdoor space and potential in a central area. While the house itself is of average size for the area and its assessment value is on the lower end for the immediate street, this presents a clear value proposition: you are purchasing substantial land in a desirable community. The home would suit a buyer looking for a solid starter home or downsizer with room to garden or expand, or an investor/renovator who sees the underlying value in the large parcel and is comfortable with a property of this vintage. A thoughtful perspective is that this home offers a quieter, more spacious alternative to newer infill developments, preserving neighbourhood character while providing room to breathe.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. For example, being in the top 13% for lot size city-wide confirms the lot is a major asset, while the lower ranking for assessed value suggests the current improvements may be modest relative to the land.

2. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers should verify its current configuration and legal status with the seller and local authorities if considering rental income.

3. What are the implications of a 1964 build year?
Homes from this era may have original mechanical systems (like plumbing and electrical) and require updates. A thorough inspection is crucial to understand the condition and plan for any modernizations or maintenance.

4. There's no garage. Is adding one possible?
Given the very large lot size, there is likely physical space for a garage or carport. Any addition would be subject to local zoning bylaws, setback requirements, and permitting.

5. Why is the assessed value ranking lower than the others?
This often indicates that the municipal assessment reflects the current state of the home rather than the full market potential of the land. It can signal an opportunity for value increase through renovations or updates, which would be reflected in future assessments.