Property Overview
18 Emerald Grove Drive is a 4-level split home built in 1968, situated on a large 7,196 sqft lot in Winnipeg's Booth neighbourhood. It features 1,848 sqft of living space and a renovated basement. Recent market activity shows a sale in October 2023 for $56.40k, with a current assessed value of $520k.
Key Characteristics & Appeal
This home presents a compelling opportunity defined by its spacious lot, recent updates, and strong value metrics within its immediate area. Its primary appeal lies in the generous, above-average land size, offering room for gardening, play, or expansion. The renovated basement adds modern, functional living space. The data suggests a property that outperforms most of its local peers in key areas: it sits in the top 2% of its street for being a newer build, the top 10% of the neighbourhood for living area, and the top 2% for assessed value. This indicates a well-positioned asset relative to its surroundings.
It would suit a practical buyer looking for a home with established character and room to grow, without requiring a full renovation. It's ideal for someone who values a larger private outdoor space over an attached garage. The strong assessment and recent sale history also make it a point of interest for value-conscious buyers or investors attentive to neighbourhood equity trends.
Frequently Asked Questions
1. Why is there such a large difference between the 2023 sale price and the current assessed value?
The 2023 sale price of $56.40k likely reflects a non-arms-length transaction, such as a transfer between family members. The assessed value of $520k is the municipal valuation for taxation purposes and is a better indicator of its market value relative to similar area homes.
2. What does the "rank" data mean for a potential buyer?
These rankings show how this property compares to others on its street, in the neighbourhood, and across Winnipeg. For example, being in the top 2% for assessed value in the neighbourhood suggests it is considered a higher-value home in that area, which can be positive for equity but may also mean property taxes are proportionately higher.
3. The home doesn't have a garage. How does that impact its value?
The lack of a garage is factored into its current valuation. The appeal, therefore, shifts to its other strengths: the very large lot and renovated interior. For buyers who prioritize storage or parking, this is a consideration; for those who value outdoor space, it may be a worthwhile trade-off.
4. How does the 4-level split layout affect daily living?
A 4-level split provides good separation of living and sleeping areas, often creating distinct zones. It can be efficient for families but involves more stairs than a bungalow or 2-storey. The renovated basement adds a flexible level for recreation, a home office, or guest space.
5. The home is 58 years old. What should I be mindful of?
While the basement has been renovated, a home of this age may have original or aging core components like the roof, windows, plumbing, or electrical systems. A thorough inspection is recommended to understand the condition and timing of any future updates needed.