Property Overview
This one-storey home at 107 Woodfield Bay in Winnipeg's Elmhurst neighbourhood presents a practical and updated living space. Its key appeal lies in being a well-maintained, move-in-ready property with a recently renovated basement, offering functional square footage without the premium price tag of larger lots or newer builds in the area. At 1,248 sqft and with an assessed value of $360k, it sits as a solidly average offering in the city-wide context, but represents a value-conscious option within its own desirable street and neighbourhood.
The home would suit first-time buyers seeking a manageable, updated property in a stable area, or downsizers looking for single-level living without a condo fee. Its below-average assessed value for Elmhurst suggests it may offer more house for the money compared to immediate neighbours, though the lot size is also more modest than typical for the area. A thoughtful perspective is that this property offers the benefits of the Elmhurst community—mature trees, established streets—while being priced accessibly due to its older vintage (1978) and standard lot, making it a strategic entry point into the neighbourhood.
Frequently Asked Questions
How does this home’s value compare to others on the street?
The home’s assessed value is below the average for Woodfield Bay, ranking in the lower 22% on the street. This could indicate a value opportunity or reflect factors like its specific lot or the home’s condition relative to peers.
Is the basement renovation reflected in the assessment?
While the basement is noted as renovated, the assessed value remains below the local averages. This suggests the official assessment may not fully capture recent updates, which could be a positive point for market value versus municipal valuation.
What does the "below average" lot size mean for me?
At 5,249 sqft, the lot is smaller than most in Elmhurst but is average for Woodfield Bay itself. This typically means lower maintenance and potentially a more community-focused street feel, but less private outdoor space than some area homes.
Who is the typical buyer in this area?
Elmhurst attracts a mix of long-term residents, families, and downsizers. This particular home, being a one-storey with a renovated basement, is especially practical for those seeking accessibility or preferring not to maintain a large, multi-level property.
Are sale prices here close to the assessed value?
The last recorded sale was in 2020 for $353,000. The current $360k assessment is very close to that sale price, indicating stable value. Market conditions will determine the final sale price, but this history shows consistency.