Property Overview: 4 Mayfield Crescent, Winnipeg
Section 1: Key Characteristics & Appeal
This well-maintained 1995-built home in Elmhurst offers a compelling blend of space, location, and value. Its key appeal lies in its established, highly desirable neighborhood setting, evidenced by its exceptional rankings: it surpasses 100% of other homes within both the Elmhurst community and the entire city of Winnipeg for its lot area, indicating a premium, spacious property.
With 1,463 sqft of living space and a finished basement, the home provides practical room for a family or those needing flexible space. Its recent sale in November 2024 for $570,000—significantly above its assessed value—demonstrates strong market confidence and suggests the property is in move-in ready condition. The home suits buyers looking for a solid, turnkey property in a top-tier neighborhood without the premium of a brand-new build. It’s an ideal fit for those who value a quiet, crescent location and proven community appeal over having a garage or the latest modern finishes. A thoughtful perspective: while the interior size is above average, its true standout feature is the land itself, offering rarity and potential in a mature area.
Section 2: Frequently Asked Questions
1. What does ranking in the top 0% for lot area actually mean?
It means this property's land size is larger than every other comparable residential property used in the ranking within both Elmhurst and Winnipeg, making it a notably spacious lot for the area.
2. The house sold for much more than its assessed value in 2024. Why?
Municipal assessments for tax purposes often lag behind current market values. The sale price reflects what competitive buyers were willing to pay, likely due to the home's condition, the premium lot, and high demand for the Elmhurst neighborhood.
3. Is the lack of a garage a significant drawback?
For some buyers, yes. However, the property's top-tier rankings suggest its other attributes—like lot size and location—are highly valued and may compensate for this. It may suit those who prioritize outdoor space over covered vehicle storage.
4. The home is 31 years old. What should I consider?
While the rankings show it's newer than 77% of Winnipeg homes, a 1995 build means core systems (roof, windows, HVAC) may be nearing or have reached their typical lifespan. A thorough inspection is advised to understand their condition and any upcoming investments.
5. How stable is the property’s value given these rankings?
Its exceptional rankings for lot area and strong community standing are permanent, positive attributes that typically support long-term value. The recent sale above assessment further anchors its market price, suggesting a history of solid value retention in this location.