Property Overview
This 1970-built, one-storey home in Elmhurst offers a well-maintained and practical living space on a large, nearly 8,000 sqft lot. Its key appeal lies in its balance of space, location, and value. The 1,120 sqft home features a finished basement and a detached garage. Its standout characteristic is the generous lot size, which ranks in the top 11% across Winnipeg, providing exceptional outdoor potential. The property’s assessed value ranks highly within its immediate area, suggesting it is viewed as a solid asset in its neighbourhood.
It particularly suits first-time buyers or downsizers seeking a manageable single-level layout without sacrificing yard space. It also appeals to value-conscious buyers looking for a home with clear redevelopment potential, given the lot's size. The appeal is grounded more in practicality and future opportunity than in luxury finishes, making it a sensible choice for those prioritizing land and location.
Key Questions for Buyers
1. How does the age of the home affect its condition and costs?
Built in 1970, major components like the roof, windows, and mechanical systems may be at or beyond their typical lifespan. A thorough inspection is crucial to budget for potential updates, though the home has clearly been maintained given its recent sale history.
2. What is the significance of the large lot size?
The lot is a major asset, ranking larger than 89% of Winnipeg properties. This not only allows for ample private outdoor space but also presents future possibilities like additions, a garden suite (subject to zoning), or simply holding as a long-term investment in the land.
3. How does the property rank for value in its area?
Its assessed value ranks higher (top 20% in Winnipeg) than its size or age rankings. This often indicates the lot value and the neighbourhood are strong contributors, suggesting the property is in a desirable pocket of Elmhurst.
4. Is the finished basement a legal suite?
The listing notes a finished basement but does not specify a separate entrance or kitchen. It likely serves as additional living space, not an income suite. Buyers should verify its configuration and compliance with local codes if rental income is a goal.
5. What does the 2021 sale price tell us?
Selling for $459,000 three years ago, close to its current assessment, indicates the market has historically supported this value level. It provides a recent benchmark, suggesting stable value in the area during that period.