Property Overview: 154 Woodfield Bay, Elmhurst, Winnipeg
Section 1: Key Characteristics & Appeal
This well-maintained 1982 bungalow in Elmhurst offers a practical and comfortable living space on a generous 4,617 sqft lot. Its key features include 1,320 sqft of living space and a finished basement, providing ample room for a small family, a couple, or a downsizer. The home's standout characteristic is its remarkable condition for its age, ranking newer than 99% of homes on its street, suggesting it has been thoughtfully cared for or updated over time.
The primary appeal lies in its solid value proposition within a mature neighbourhood. With an assessed value significantly higher than its last sale price in 2020, it presents a compelling entry point into a stable area. The large lot is a notable asset, offering potential for gardening, outdoor living, or future expansion where permitted. This property is ideally suited for first-time buyers seeking a move-in-ready home without the premium of a new build, or for practical-minded buyers who prioritize a low-maintenance, single-story layout and see the inherent value in a home that has aged better than most of its peers.
Section 2: Frequently Asked Questions
1. What does the home's ranking data actually mean?
The rankings compare this property to others in its immediate area. For example, being newer than 99% of homes on its street is a strong positive indicator of its condition relative to the neighbourhood. Its assessment ranking higher than many area homes suggests it is viewed as a above-average property for the locale.
2. Is the lack of a garage a significant drawback?
While a garage is a common preference, its absence can be mitigated by the large lot, which may have space for a parking pad or future carport (subject to bylaws). For some buyers, this trade-off for a larger yard and a lower price point is acceptable.
3. The assessed value is notably higher than the 2020 sale price. Why?
Municipal assessments are for taxation purposes and reflect a mass appraisal at a specific point in time. The market sale price is determined by current buyer demand. The gap could indicate potential equity, but a professional appraisal and market analysis are needed to determine the current fair market value.
4. Who would this neighbourhood, Elmhurst, typically appeal to?
Mature neighbourhoods like Elmhurst often attract buyers looking for established tree-lined streets, larger lot sizes, and a sense of community. They offer a balance between affordability and convenience, typically with good access to schools, parks, and main arterial routes.
5. What are the advantages of a finished basement in a bungalow?
In a 1,320 sqft bungalow, a finished basement effectively doubles the usable living space. It provides crucial flexibility, serving as a family room, home office, guest space, or dedicated area for hobbies, which is a key asset for growing or multi-generational families.