Property Summary: 3566 Eldridge Avenue
Key Characteristics & Appeal
This 1974-built, single-storey home in Elmhurst sits on a large, approximately 8,759 sqft lot, which is its most defining and competitive feature. The property ranks in the top 9% in Winnipeg for lot size, offering significant outdoor space that is rare to find. The home itself is 1,077 sqft with a finished basement and a detached garage. Its appeal lies in a balance of space and value: you are primarily investing in the substantial land, with a functional, modest-sized house that provides immediate livability. It suits buyers looking for a long-term property with room to grow, garden, or potentially expand, as well as those who value more private outdoor space over a larger interior footprint. It's a practical choice for a young family, a downsizer wanting a manageable home with a generous yard, or an investor recognizing the inherent value in the land itself. A thoughtful perspective is that while the house's interior size and age are average for the market, the exceptional lot size offers future flexibility and represents a scarce commodity that typically appreciates well.
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, ranking in the "top 9%" for lot size in Winnipeg means 91% of properties have a smaller lot, highlighting this as a key strength.
2. Is the house in need of major updates?
Built in 1974, the home is 52 years old. While it offers a finished basement and is livable, buyers should budget for ongoing maintenance and potential updates common to houses of this era, such as windows, roofing, or mechanical systems.
3. How does the lot size impact property costs?
A larger lot can mean higher municipal property taxes, as land value is a key component of assessment. It also entails more responsibility for maintenance (lawn care, snow clearing). However, it provides greater privacy, recreation space, and long-term value.
4. What are the implications of a detached garage?
A detached garage offers flexibility—it can be used as a workshop or storage without impacting the main house. The trade-off is that you must go outside to access your vehicle, which can be less convenient in Winnipeg's winter months compared to an attached garage.
5. Who determines the "Assessment Total" of $370,000?
This value is set by the municipal property assessment authority for taxation purposes. It is not the same as market value, but it provides a benchmark. The listing price is set by the seller and can be higher or lower based on current market conditions.