Property Overview
This two-storey home in Elmhurst offers a practical and spacious family layout on a large 6,130 sqft lot. Built in 1978, its key appeal lies in its above-average size, with 1,853 sqft of living space and a finished basement, providing ample room for growth. The property's value is underscored by strong market rankings, placing in the top 15-30% of Winnipeg for both size and assessed value. Its most notable feature is a significant 2022 sale at $628,000, which outperformed 94% of city-wide transactions at that time, indicating a history of strong buyer demand for this specific home. The home suits buyers looking for a move-in ready, established property in a mature neighbourhood who prioritize interior space and a sizable yard over a brand-new build. A thoughtful perspective is that while the home is nearly 50 years old, its recent high-value sale suggests it has been well-maintained or updated, mitigating typical concerns about age.
Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in its immediate area and across Winnipeg. For example, ranking "in the top 14%" for living area in Winnipeg means 86% of homes in the city are smaller. This indicates a key strength of the property is its above-average spaciousness.
2. Why was the 2022 sale price so much higher than the current assessed value?
The assessed value ($518,000) is for municipal tax purposes and can lag behind the dynamic real estate market. The 2022 sale price ($628,000) reflects what a buyer was actually willing to pay at the peak of that market cycle, demonstrating the property's high perceived value in competitive conditions.
3. Is the age of the home (built 1978) a concern?
While the home will have systems (like roof, windows, furnace) that may need attention or updating due to its age, the 2022 sale suggests it presented well. A pre-purchase inspection is especially important to identify any upcoming maintenance needs common for homes of this era.
4. Who would this property best suit?
It's ideal for families or those needing space, thanks to its large living area and finished basement. It would also appeal to value-focused buyers who see the benefit of a larger lot and established neighbourhood compared to newer, often denser subdivisions.
5. How does the lot size compare?
At over 6,000 sqft, the lot is very generous for the city. This provides excellent outdoor space for gardening, play, or entertaining, which is a growing priority for many buyers and can be harder to find in newer developments.