Property Overview & Key Characteristics
This 1967-built, one-storey home in Elmhurst offers a classic bungalow layout with 936 sqft of living space, sitting on a notably large 7,278 sqft lot. Its key appeal lies in the combination of a spacious, private yard—a rarity in many neighbourhoods—and a fully finished basement, effectively doubling its usable space. The property has demonstrated solid value appreciation, with its last sale in 2021 close to its current $400k assessment.
It’s a home that suits practical buyers: first-time homeowners looking for a manageable single-level layout, or downsizers seeking a low-maintenance structure with ample outdoor space for gardening or entertaining. Its strong city-wide ranking for lot size (top 15%) is a major asset for those prioritizing land over a large footprint. A less obvious perspective is its potential for a future addition or redevelopment, given the generous lot dimensions in an established area. However, buyers should note the home’s age and that its interior square footage ranks below most comparable properties.
Frequently Asked Questions
1. How does the finished basement affect the living space?
The finished basement significantly expands the home’s usable area, providing crucial extra rooms for a family room, office, or additional bedrooms that the main floor may not accommodate. It’s a key feature that adds functional value beyond the 936 sqft main floor.
2. What does the lot size ranking actually mean?
The property’s lot is larger than 85% of all homes in Winnipeg, placing it in the top 15%. This means you are getting an unusually large, private outdoor space for the city, which is a permanent and valuable feature of this property.
3. The home is older—what should I be prepared for?
Built in 1967, major components like the roof, windows, plumbing, and electrical systems may be at or beyond their typical lifespan. A thorough inspection is essential to understand the condition and prioritize any needed updates or repairs.
4. There’s no garage. Is that a major drawback?
For some buyers, yes. It means relying on street parking and having no dedicated space for storage or a workshop. The large lot does offer potential to add a garage or shed in the future, subject to local bylaws and permits.
5. The last sale was in 2021. What does that history indicate?
The 2021 sale price of $395,000, very close to the current assessment, suggests the market has stabilized here after a period of significant growth seen between the 2018 and 2021 sales. It indicates a property holding its value in the current market cycle.