88 Elm Park Road

Property Summary: 88 Elm Park Road, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home on a mature lot in Elm Park presents a specific and compelling profile. Its key characteristic is a recently renovated basement, adding modern living space to a 1955-built structure. At 1,023 sqft of living area, the house itself is more compact than many local comparables, but this is balanced by a desirable, above-average assessed value for the immediate area, suggesting solid underlying value or improvements.

The appeal lies in its efficient package: a manageable-sized home on a good-sized lot (over 5,300 sqft) with updated essentials in a well-established neighbourhood. A detached garage adds practical storage or workshop potential. A thoughtful perspective is that while the living space is modest, the high relative assessed value on its street could indicate it's a well-maintained or updated standout among similar-era homes, offering a move-in-ready opportunity without the premium of a larger footprint.

This property would ideally suit first-time buyers seeking a solid entry into a mature neighbourhood, downsizers looking for single-level living with a renovated basement for family visits or hobbies, or value-focused investors attracted by the strong assessment-to-size ratio and recent updates.

Section 2: Frequently Asked Questions

1. Is the house small?
Yes, at 1,023 sqft, the main living area is below the average for both Elm Park Road and the city overall. However, the renovated basement significantly expands the usable space.

2. Why is the assessed value high for the street?
While the home is not the largest, its assessed value ranks in the top 21% on Elm Park Road. This typically reflects factors like the renovated basement, overall condition, lot desirability, or recent market activity for similar updated homes in the area.

3. What does the sale history indicate?
The property last sold in August 2022 for $510,000, a price that ranked well above average at the time for the area and city. This recent transaction supports the current above-average assessed valuation.

4. Is the lot a good size?
The 5,314 sqft lot is very close to the average for Elm Park Road and provides ample outdoor space for a mature neighbourhood, a valuable asset given the home's efficient interior size.

5. How does the age of the home factor in?
Built in 1955, this home is notably newer than many on its street and in the Elm Park area, where average build years are 1945 and 1941 respectively. This can be an advantage for systems, layout, or potential renovation needs.