Property Overview & Key Characteristics
This 1974-built, one-storey home in Elmhurst sits on a generous 6,478 sqft lot and offers 1,040 sqft of living space with a finished basement. Key features include a split garage and a layout that prioritizes main-floor living. Its appeal lies in the combination of a larger-than-average lot for the area, providing room for gardening or outdoor activities, and the practicality of single-level living, which is increasingly sought after. The recent sale in June 2024 at $421,000, above the assessed value, suggests a competitive market reception.
The property would suit first-time buyers looking for a manageable, grounded home with space to grow into, or downsizers seeking a comfortable, low-maintenance layout without sacrificing yard space. Its rankings reveal a nuanced position: while the home's size is modest relative to local comparisons, its lot size and overall value rank highly within Winnipeg, indicating the land and location are significant assets. This is a property for buyers who value land and layout over sheer interior square footage.
Frequently Asked Questions
1. How does the finished basement add to the living space?
While the specific layout isn't detailed, a finished basement typically adds flexible space for a family room, home office, or additional bedrooms, effectively doubling the functional area beyond the 1,040 sqft main floor.
2. What is the neighborhood (Elmhurst) known for?
Elmhurst is a well-established, mature neighborhood in Winnipeg. It typically offers a quiet, residential feel with older tree-lined streets, local schools, and community amenities, appealing to those seeking a settled, family-friendly environment.
3. The home is 50 years old. What should I consider?
While the systems and structure of a 1974 home can be solid, a thorough inspection is crucial to understand the condition of the roof, windows, plumbing, electrical, and foundation. The recent sale may indicate updates, but due diligence is key.
4. The lot is large, but how is the property's ranking so varied?
The rankings compare specific metrics against nearby homes. This property's lot size ranks very well, but its living area and age rank as more average for the immediate area. This highlights its profile: a premium lot with a modest, older home—a potential value proposition for the right buyer.
5. Why did it sell for more than its assessed value?
Municipal assessments for tax purposes often lag behind current market values. The sale price reflects what a buyer was willing to pay in the competitive 2024 market, likely driven by the desirable lot, finished basement, and overall condition.