Property Overview: 89 Springside Drive, Elm Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in the established Elm Park neighborhood presents a practical opportunity. Its key characteristic is a compact, 780 sqft living space, which is notably smaller than most area homes. However, this is balanced by a renovated basement, adding functional space, and an above-average lot size for its immediate street. The detached garage and the home's vintage (built in 1947) are typical for the area.
The appeal lies in its efficiency and location. It suits buyers seeking a lower-maintenance footprint without sacrificing yard space, or an investor looking for a character home in a mature neighborhood. The recently renovated basement suggests modern livability within an older shell. It’s a straightforward property that makes sense for first-time buyers, downsizers, or those prioritizing lot size over square footage in a well-regarded area.
A less obvious perspective is its assessed value stability. While the home is smaller, its assessed value is consistently around the average for its street, neighborhood, and city, indicating the market recognizes the value of its lot, condition, and location despite the modest interior size.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 780 sqft, the living area is below average for Elm Park. The renovated basement provides crucial additional space, making it more functional than the main floor square footage alone suggests. It's best suited for individuals, couples, or small families.
2. What is the neighborhood like?
Elm Park is a mature, established neighborhood with homes primarily from the mid-20th century. The data shows 89 Springside Drive is among the newer homes on its specific street, offering a slight advantage in terms of potential building systems.
3. How does the value compare?
The assessed value ($325,000) is firmly average at every comparison level—street, neighborhood, and city-wide. This suggests the property is priced in line with market fundamentals for its offering.
4. What about the lot?
The 5,085 sqft lot is a standout feature for this specific street, ranking in the top 22%. It offers more outdoor space than many immediate neighbors, which is a valuable asset for gardening, play, or expansion.
5. What can recent sales tell us?
The home sold in June 2023 for $317,000. Comparing this to the current assessed value of $325,000 shows relative price stability in a recent transaction, providing a concrete benchmark for market value.