Property Overview
This 1,206 sqft bungalow on Grant Avenue is a competitively positioned home in the Elmhurst neighbourhood. Built in 1988, it features a finished basement and sits on a lot that ranks in the top tier for its size within the local area. Its key appeal lies in its established, no-frills practicality and strong positional rankings. The home outperforms the vast majority of comparable properties in its immediate street, neighbourhood, and across Winnipeg for lot size, indicating a desirable and spacious parcel of land. It also ranks well above average for its living area on its specific street. The home would suit a first-time buyer, a downsizer, or an investor looking for a solid, low-maintenance property in a mature community without the premium price tag of a newer build or a home with a garage. A thoughtful perspective is that while the interior finishes may reflect its era, the exceptional lot size offers valuable future potential for expansion or outdoor living that many newer infill properties simply cannot match.
Frequently Asked Questions
1. How does the lack of a garage impact daily life and property value?
While a garage is a common convenience, its absence is reflected in the accessible price point. Many homes in mature neighbourhoods rely on driveways or street parking. For buyers who prioritize lot size and interior space over vehicle storage, this represents a value opportunity.
2. The assessment value seems lower than expected relative to the lot ranking. Why?
Municipal assessments often weigh living area and building features heavily. This property’s standout attribute is its land value, which may not be fully captured in the total assessment figure. The market price typically reflects the full potential of both the home and the land.
3. What does "finished basement" entail in a 1988 bungalow?
It typically means developed living space, but finishes may be functional rather than modern. It’s wise to clarify the ceiling height, layout, and quality of finishes (e.g., flooring, lighting) to understand if it suits your needs for recreation, guests, or storage.
4. The home ranks highly for lot size but lower for assessment value in the broader neighbourhood. What does this indicate?
This pattern often points to a solid, well-located property that may benefit from updates. It suggests you are paying primarily for the desirable land and the "bones" of the house, with room to add value through renovations over time.
5. Are there any concerns with a house built in 1988?
Homes from this era are generally modern in key systems (wiring, insulation) but may be due for scheduled updates to components like the roof, windows, or major appliances, which have a typical lifespan of 25-40 years. A thorough inspection is recommended.