Property Overview: 111 Woodview Bay
This 1982-built four-level split home in Elmhurst offers a compelling blend of space, privacy, and established charm. Sitting on a large, approximately 10,469 sqft lot, the property ranks in the top 5% of Winnipeg for lot size, providing a rare sense of openness and room for gardens, play, or expansion. The home itself features 1,780 sqft of living space, a built-in garage, and an in-ground swimming pool. Its appeal lies in this generous, private outdoor setting combined with solid interior space, all within a mature neighbourhood. The property suits buyers looking for a family home with significant yard space who appreciate the character of an established area and have the vision to update the interior and finish the basement to their own tastes. It’s a home for those who value land and potential over turn-key perfection.
Key Considerations & FAQs
1. What is the condition of the home, given its age?
Built in 1982, the home is well into its lifecycle. Buyers should budget for updates to aging components like the roof, windows, and mechanical systems. The basement is noted as unfinished, and the interior likely requires modernization, presenting both a project and an opportunity to customize.
2. How does the pool impact the property?
The in-ground pool is a major seasonal amenity but requires dedicated maintenance, insurance considerations, and safety measures. It adds to the recreational appeal but also represents an ongoing cost and responsibility that future owners must be prepared to manage.
3. Why did the assessed value increase significantly since the 2021 purchase?
The current assessment of $476,000, compared to the 2021 sale price of $380,000, reflects strong market-wide appreciation and the high value placed on its exceptionally large lot. Assessments are based on municipal evaluations and recent area sales, not just the home's interior condition.
4. Who would this property not suit?
It may not suit those seeking a low-maintenance, modern, or immediately move-in-ready home. The scale of the lot and the pool require more upkeep, and the unfinished basement means additional investment is needed to fully utilize the home’s square footage.
5. What are the less obvious advantages of this specific lot?
Beyond the sheer size, ranking in the top 2% on its street, the lot offers exceptional privacy and potential. The scale allows for future additions like a deck, workshop, or extensive landscaping that wouldn't be possible on standard lots, providing long-term flexibility as needs change.