848 Elizabeth Road – Property Summary
Key Characteristics & Buyer Profile
This is a 1955 home in Windsor Park, Winnipeg, with 796 square feet of living space on a 5,280-square-foot lot. Its current assessed value is $317,000.
The property sits on a notably large lot relative to its modest house size. While the living area is well below average for the street, neighbourhood, and city, the land area is actually slightly above the street average (4,596 sqft) and close to the citywide median. The assessed value is slightly above the street average ($291,600) but below the neighbourhood and city averages, which suggests the value is carried more by the land than the structure. The home is older than most in the area—built 6 years before the street average and 11 years before the citywide average.
This property would suit buyers who:
- Prioritize outdoor space over interior square footage.
- Are comfortable with a smaller, older home that may need updates or renovation.
- Want to be in Windsor Park without paying a premium for a fully finished or larger home.
- See potential in a lot that could support an addition or major reno (subject to zoning and permits).
- Are looking for an entry-level price point in a well-established central Winnipeg neighbourhood.
Frequently Asked Questions
1. Why is the assessed value above the street average if the house is smaller and older than most on the street?
Assessed value reflects both the structure and the land. On Elizabeth Road, the average lot is 4,596 sqft—this property’s 5,280 sqft lot is about 15% larger. That extra land offsets the smaller house and older build, pulling the value slightly above the street median. It’s a reminder that in older neighbourhoods, lot size often plays a bigger role in value than many buyers expect.
2. How does this property compare to others in Windsor Park as a whole?
In the Windsor Park neighbourhood, this home ranks in the bottom 18% for living area and bottom 18% for year built. Its assessed value is also below average for the area. The lot size is in the bottom 18% neighbourhood-wide, too—so while the lot is generous for its street, it’s still smaller than many properties in Windsor Park. This home is a relatively modest entry point for the neighbourhood.
3. Is this a good candidate for a renovation or addition?
Potentially, but it depends on your goals. The large lot gives you physical space to expand or rebuild, and the low assessed value relative to the area means you’re not overpaying for the land. However, a 1955 home may have older foundations, wiring, or plumbing, and any addition would need to meet current zoning and setback requirements on Elizabeth Road. A structural inspection and a chat with the city planning department would be wise before assuming an expansion is straightforward.
4. How does the year built affect insurance and maintenance expectations?
Homes from the 1950s often have solid framing and good bones, but they typically lack modern insulation, may have older electrical systems (knob-and-tube or aluminum wiring), and could contain materials like lead paint or asbestos in tiles or insulation. Insurance companies sometimes flag these features. A buyer should budget for an电气 and plumbing inspection and expect higher heating/cooling costs than a newer home. That said, many 1955 homes in Winnipeg have been updated over the years, so check what’s original.
5. What’s the neighbourhood like for resale value down the line?
Windsor Park is a stable, mature neighbourhood with good access to amenities and transit. Homes here tend to sell steadily, but not quickly. The biggest factor for resale would be what a buyer does with the property now—if it’s kept largely as-is, it will likely appeal to a similar budget-conscious buyer. If someone invests in an addition or significant renovation, the property could move up in value relative to the area. The lot size is a real asset, but the small living area limits the current price ceiling.