Property Summary: 427 Elmhurst Road, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-family bungalow situated on a large, mature lot in the sought-after Varsity View neighborhood. Built in 1989, the home offers 1,626 sqft of living space, a finished basement, and an attached garage. Its standout feature is its significant lot size of 6,790 sqft, which is well above average for the area and provides ample outdoor space for gardening, recreation, or future expansion.
The appeal lies in its balanced offering of space, location, and value. The home ranks notably high against local benchmarks for its lot size, assessed value, and living area, indicating a property that is both substantial and desirable within its market. It suits buyers looking for a solid, move-in ready home in a prime central neighborhood—perfect for a small family, professionals, or downsizers who value a main-floor living layout and a generous, private yard without the maintenance of an older character home. A thoughtful perspective is that this property represents a "grounded opportunity": it's not the newest on the block, but its above-average rankings in key metrics suggest a well-positioned asset in a stable community, offering more land than typical modern infill projects.
Frequently Asked Questions
1. What is the significance of the property rankings provided?
The rankings show how this home compares to others on its street, in Varsity View, and across all of Winnipeg in specific categories. For example, being in the top 19% city-wide for lot size means you're getting more land than over 80% of Winnipeg properties, a key differentiator.
2. Is the basement included in the 1,626 sqft living area?
Typically, the listed living area refers to above-grade, finished space. The basement is listed separately as "finished," meaning it provides additional usable living space not reflected in the main 1,626 sqft figure.
3. What are the benefits of a one-storey (bungalow) layout?
Bungalows offer main-floor living for all primary daily activities, which is ideal for accessibility, families with young children, or those planning for long-term ease. The finished basement then adds flexible space for guests, a home office, or recreation.
4. The house was built in 1989. What should I consider?
A home of this age is likely past its major initial systems warranties but is also young enough that many original components may have been recently updated. A thorough inspection will be crucial to assess the roof, windows, HVAC, and plumbing, which could be nearing or have entered their typical renewal periods.
5. Why is the assessed value ranking so high compared to the neighborhood?
Ranking in the top 23% of Varsity View for assessed value suggests the municipal assessment reflects the property's above-average attributes—like its large lot and good living space—relative to its neighbors. It can indicate strong underlying value, but the final market price is determined by buyer competition.