Property Overview & Key Characteristics
This 1978-built one-storey home in Elmhurst sits on a notably large, mature lot of over 10,500 sqft, offering a rare sense of space and privacy for the area. Its key appeal lies in this generous land size, which ranks in the top 5% of all Winnipeg properties. The home itself features a fully finished basement and attached garage, with a practical layout of 1,735 sqft of living space that ranks above average for the city. While the structure itself is from the late 70s, the property’s standout value is its established, expansive yard—a blank canvas for gardening, recreation, or future expansion. It would suit buyers prioritizing land over a new build, such as growing families seeking room to play, downsizers wanting a manageable single-level home with a spacious outdoor retreat, or long-term investors attracted by the inherent value of a large lot in a mature neighbourhood.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg. For example, its land size is in the 95th percentile city-wide, meaning it’s larger than 95% of Winnipeg properties, which is its most competitive feature.
2. Is the house dated, and what might need updating?
Built in 1978, the home is nearly 50 years old. Buyers should budget for modernizing mechanical systems (like plumbing or electrical) and interior finishes that reflect that era, even with a finished basement. The value here is more in the land and the solid foundation.
3. How does the lot size impact costs and potential?
A lot this size means higher potential property taxes relative to smaller lots in the area, but it also offers significant future potential. It provides ample space for additions, a large garden, or even subdivision, subject to city zoning approvals.
4. Who is this property not ideally suited for?
It may not suit buyers seeking a modern, move-in-ready home without any renovation projects, or those who prefer low-maintenance, small-lot living. The appeal is for those who see value in the land and are willing to update the home over time.
5. Why is the assessed value important here?
The $500,000 municipal assessment provides a baseline for its taxable value and can be a useful, though not definitive, gauge for its market value. It ranks in the top 18% in Winnipeg, reflecting the premium placed on its large lot and finished living space.