Property Overview & Key Characteristics
10 Oswald Bay is a well-established, single-storey home in Elmhurst, built in 1978. Its primary appeal lies in its generous proportions and established neighbourhood setting. The home offers 1,637 sqft of living space on a large, nearly 6,800 sqft lot, providing ample room both indoors and out. A key feature is the finished basement, which adds functional living space. The property ranks notably well within Winnipeg for its lot and living area size (surpassing 81% and 79% of city homes, respectively), indicating it is a larger-than-average offering for the market.
This home would best suit buyers looking for a solid, spacious bungalow in a mature community without the premium of a newer build. It’s ideal for those who value interior space and a sizable yard over a recently constructed home. The strong rankings for size suggest it offers good value for buyers prioritizing square footage. It could be a fit for downsizers seeking single-level living with room for family visits, or for families who appreciate the stability of an established area and are willing to update the home over time.
Frequently Asked Questions
1. What is the significance of the property rankings listed?
The rankings show how this home compares to others in its immediate street, broader Elmhurst community, and all of Winnipeg. For example, ranking in the top 21% in Winnipeg for living area means it is notably larger than most homes in the city, a key advantage.
2. Is the 48-year-old age of the home a concern?
While the 1978 build means major systems (like roof, windows, furnace) may be at or beyond their typical lifespan, it also means the home is situated in a mature neighbourhood with established landscaping and community character. A thorough inspection is essential to understand the condition and any upcoming capital costs.
3. The assessment value is lower than the asking price. Why?
Municipal assessments are for tax purposes and often lag behind current market values, which are driven by recent sales, demand, and specific property features. The assessment is a starting point, not a definitive market price.
4. What are the pros and cons of a home that ranks highly for size but average for age?
The pros are more living and yard space for your dollar compared to newer homes. The potential con is that some of your budget may be allocated to modernizing or maintaining older components rather than purchasing brand-new finishes.
5. What does the "finished basement" entail?
The listing confirms the basement is finished, adding usable space to the 1,637 sqft main floor. It’s important to clarify the finish quality, ceiling height, legal egress, and whether it includes a bathroom or separate entrance, as these factors affect its value and utility.