Property Overview: 36 Springside Drive, Elm Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in the established Elm Park neighbourhood presents a classic Winnipeg character home with modern updates. Its key feature is a recently renovated basement, adding valuable finished living space to the 1,008 sqft main footprint. Built in 1942, the home sits on a 5,080 sqft lot, offering a manageable outdoor space typical for the area.
The appeal lies in its strong position within a desirable, mature neighbourhood. While the living area is modest compared to the city-wide average, its assessed value of $360k ranks notably high for Springside Drive itself (top 14%), suggesting the property is well-regarded within its immediate context. This indicates a home that has been maintained or improved in ways the market recognizes. It suits first-time buyers or downsizers seeking a character home in a prime location without the upkeep of a large lot, and who value a move-in-ready basement space. A thoughtful perspective is that this home represents the "bones" and location of Elm Park, offering a chance to live in the neighbourhood with the major project of a basement renovation already completed.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home was last sold in June 2021 for $350,000. The current assessed value of $360,000 is slightly higher, indicating stable or slightly appreciating market value in line with area trends.
2. Is the living space smaller than other homes in the area?
At 1,008 sqft, it is slightly below the average for both Springside Drive (~1,092 sqft) and the broader Elm Park area (~1,247 sqft). The renovated basement effectively expands the usable living area, which is a key consideration when evaluating total space.
3. What does the "top 14%" ranking for assessed value on its street mean?
This statistic means that among 58 comparable properties on Springside Drive, only 7 have a higher assessed value. It suggests this specific home is considered one of the more valuable properties on its own block, likely due to factors like its renovated condition.
4. The home was built in 1942. What should I consider?
While the neighbourhood average age is similar, it is among the older homes on its specific street. Prospective buyers should ensure inspections carefully review core systems (plumbing, electrical, foundation) common to homes of this era, balanced against the charm and build quality often found in older properties.
5. How does the lot size impact the property?
The lot is below average in size for both the street and Elm Park. This translates to less yard maintenance—a plus for some—but may limit expansion possibilities or the desire for extensive private outdoor space. It emphasizes the property's focus on the home itself and its location within the community.