Property Overview & Appeal
This one-storey home at 639 Elm Street in Central River Heights is defined by its generous, above-average lot size in a highly desirable neighbourhood. With 6,006 sqft of land, the property ranks in the top 16% for lot size on its own street, offering significant outdoor space that is a rarity in central locations. The home itself is more modest, with 1,105 sqft of living space, and retains its 1950s character. A key modern update is the renovated basement, adding functional living area. The detached garage provides additional storage or workshop potential.
The primary appeal lies in the land itself—a large, blank-canvas yard in a mature, established area—coupled with the value of having a liveable, updated base to build upon. It perfectly suits a buyer with a vision, whether that's extensive gardening, future expansion, or building a new dream home. It’s also a strong match for those seeking a lower entry point into a top neighbourhood, willing to trade immediate square footage for long-term lot value and potential.
Frequently Asked Questions
1. Is the house in need of major updates?
While specific conditions aren't listed, the home was built in 1950 and has a modest living area. The basement has been renovated, but the main floor likely retains its original layout and character. Buyers should budget for modernizing updates to suit contemporary living.
2. Why is the assessed value significantly different from recent sale prices in the area?
The assessed value is for taxation purposes and often lags behind market trends. The home last sold in 2021 for $38,600, and its current assessed value is $42,300. Both figures are notably low, reflecting the home's modest size and condition rather than the land's high value, which will be the primary driver of the market price.
3. How does the lot size compare practically?
At 6,006 sqft, the lot is over 15% larger than the average in Central River Heights. This translates to more private yard space, room for additions like a deck or patio, and greater distance from neighbours—a notable advantage in this neighbourhood.
4. What is the potential for adding on or rebuilding?
The large lot presents clear potential for a significant addition or even a future rebuild, subject to local zoning bylaws. This makes the property a strategic purchase for buyers planning a multi-phase home investment.
5. Who handles the rankings and comparisons shown?
The rankings (e.g., "Top 16%") are provided by the listing platform, SaveOnHouse, and are generated by comparing this property's metrics against similar homes on the same street, in the wider neighbourhood, and across Winnipeg. They offer a quick, data-driven snapshot of how specific features compare.