Property Overview
676 St. Mary's Road is a well-situated, one-storey home in Winnipeg's established Elm Park neighbourhood. Its key appeal lies in a balance of location, lot size, and value within a mature community. The home itself is modest in size at 816 sqft, placing it below the average for the area, but it sits on a generous 6,517 sqft lot that is above average for Elm Park. This presents a classic "value in the land" scenario. The basement has been renovated, adding functional living space, and the property includes a detached garage.
This home would suit a first-time buyer, a downsizer, or an investor looking for a solid entry into a desirable neighbourhood without a premium price tag. It’s ideal for someone who values outdoor space and location over a large interior footprint and sees potential in a home that may benefit from future updates. The below-average living area suggests a cozy, efficient layout, which can be a perk for those seeking lower utility costs and minimal upkeep.
Frequently Asked Questions
1. Is the house too small?
At 816 sqft, the living area is notably smaller than many area homes. However, the renovated basement provides additional finished space. Buyers should consider if the layout and total usable space meet their needs.
2. What does the "value in the land" comment mean?
The lot size is a standout feature, larger than most in Elm Park. This can be appealing for gardening, outdoor living, or future expansion (subject to zoning and permits), and often represents a significant portion of a property's long-term value in mature neighbourhoods.
3. How does the assessed value relate to the sale price?
The home last sold for $360k in 2023, while its current assessed value is $35.6k. It's important to understand that municipal assessed value for property tax purposes is not an indicator of market value. The recent sale price is a far more relevant gauge.
4. What are the implications of the home's age?
Built in 1947, the home is of average age for the street. This typically means character but also suggests that major systems (roof, plumbing, electrical) should be carefully inspected, as they may be original or nearing the end of their lifespan.
5. Who might this property not suit?
It may not be the best fit for a growing family needing multiple large bedrooms, or for buyers who prioritize a modern, open-concept layout without renovation work. The smaller main-floor living area requires thoughtful space planning.