Property Summary: 2 Woodfield Bay, Elmhurst, Winnipeg
Key Characteristics & Appeal
This is a classic, single-story home built in 1979 on a generous, mature lot of nearly 5,500 square feet. Its primary appeal lies in its solid foundation and the significant potential offered by its unfinished basement and larger-than-average property size. With 1,090 sqft of living space, it ranks as a more compact home in its immediate area, suggesting a practical and manageable layout.
The property suits first-time buyers or practical downsizers looking for an entry point into a stable neighborhood without a premium price tag. Its true value is for the hands-on buyer who sees opportunity: the unfinished basement presents a clear, cost-effective path to add personalized living space and value. The large lot is a standout feature, offering private outdoor space that is increasingly rare, perfect for gardening, play, or future expansion. While it lacks modern updates and a garage, its assessment value is among the most modest on the street, indicating a lower property tax burden and a realistic renovation budget relative to the neighborhood.
Frequently Asked Questions
1. What is the true significance of the provided rankings?
The rankings show this home is a "value play" in its specific street and broader Elmhurst community. It outperforms most Winnipeg homes for lot size but is priced below its immediate neighbors, highlighting a trade-off between location and a home ready for modernization.
2. How much would finishing the basement add to the living space?
The existing living area is 1,090 sqft. A fully developed basement could potentially double the functional square footage, dramatically changing the utility and value of the home, subject to permits and construction costs.
3. What are the implications of having no garage in this location?
This means relying on street parking or considering the addition of a driveway or parking pad as a future project. For some buyers, this is a worthwhile compromise for the lot size and price point.
4. Is the 1979 construction date a concern?
Homes from this era are common in Winnipeg. While major systems like roof, windows, and furnace may be at or beyond their typical lifespan, a thorough inspection is crucial. This also means the structure is likely simpler and more adaptable to renovation than much older homes.
5. Who is this property not suited for?
It is not ideal for buyers seeking a turn-key, modern home or those unwilling to take on renovation projects. It also may not suit those who require ample built-in storage or dedicated parking immediately.