1014 Elizabeth Road – Property Summary
Key Characteristics & Buyer Profile
This is a 1,029-square-foot bungalow built in 1958 on a notably large 6,838-square-foot lot in Windsor Park. The home’s main draw isn’t its interior size—it’s slightly below average compared to the rest of Winnipeg—but the land it sits on. The lot ranks in the top 13% on its street and top 18% citywide, which is unusual for a property in this price range. The assessed value of $287,000 is below both the neighbourhood and city averages, meaning the land-to-building value ratio is skewed toward the lot rather than the house itself.
The appeal here is for buyers who prioritize outdoor space or future potential over move-in-ready square footage. It would suit someone who wants room for a large garden, a shop, or an addition, without paying a premium for a finished interior they’d have to redo anyway. It could also work for an investor or renovator looking to acquire a well-positioned lot at a below-market price—the house is solidly mid-century but not updated, which keeps the entry cost low. It’s less suited for someone who wants a turnkey home or needs maximum living space right away.
FAQs
1. Why is the assessed value so much lower than the neighbourhood average?
The house itself is smaller and older than many nearby homes, and the assessment reflects that. The lot value is higher than typical for the street, but the building brings the total down. It’s a classic case of a property where the land is worth more than the structure.
2. Can I build an addition or a second dwelling on this lot?
That depends on current zoning and setback rules for Windsor Park. The lot size is generous, so there’s physical room, but you’d need to check with the city for allowable density and any restrictions on secondary suites. Many similar lots in the area have been subdivided or developed, but it’s not guaranteed.
3. How does the year built affect insurance or maintenance?
Homes from 1958 often have older wiring, plumbing, and possibly lead or galvanized pipes. Insulation levels may also be below modern standards. Insurance rates can be slightly higher unless updates are documented. Buyers should budget for a thorough home inspection and potential upgrades.
4. Is Windsor Park a family-friendly neighbourhood?
Yes, it’s a stable, established area with mature trees, parks, and schools within walking distance. The large lot makes it particularly attractive for families who want yard space. That said, many homes in the area are from the same era, so character and maintenance levels vary block by block.
5. How does this property compare to others currently for sale on Elizabeth Road?
It’s one of the more affordable options on the street based on assessed value, and it has one of the largest lots. List prices may vary, but the assessment suggests it’s priced below many neighbours. If the house is in decent condition, it could represent good value relative to newer or fully renovated homes nearby.