Property Overview
This 1983-built, one-storey home in Elmhurst offers a practical and comfortable living space on a generous 5,046 sqft lot. Its key appeal lies in a combination of established neighbourhood character, above-average lot size, and recent value appreciation. With 1,320 sqft of living space, a finished basement, and an attached garage, it provides the essential components for family living. The home’s standout characteristic is its relative newness compared to others on its street, ranking newer than 97% of neighbouring houses, which can suggest more modern construction standards for its era. Its assessed value has risen notably, indicating a solid investment trajectory.
The property would suit first-time buyers or downsizers looking for a manageable single-level layout in a mature area. It also appeals to value-conscious buyers who prioritize land size over a large interior footprint, offering room for future gardens, play areas, or expansions. The strong rankings for lot size and age within its immediate street context make it a competitively positioned home in its micro-location.
Key Questions for Prospective Buyers
1. How does the "ranking" system work?
The rankings compare this home against others on the same street, in Elmhurst, and across all of Winnipeg. For example, being newer than 97% of houses on its street is a significant advantage, while its lot size is larger than most in the neighbourhood. This helps gauge its relative strengths in a specific area.
2. What does the price history indicate?
The home sold for $360,000 in 2019 and then $400,000 in 2021, showing strong appreciation over a short period. The current assessed value is $432,000, which typically reflects municipal valuation for tax purposes, not necessarily market price, but suggests continued growth.
3. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers should verify its layout and compliance with local regulations if considering rental income potential.
4. What are the pros and cons of a 1983-built home?
Pros include more modern wiring, insulation, and building codes compared to much older homes. Cons may involve upcoming maintenance or replacement of original components that are now over 40 years old, such as the roof, windows, or major systems.
5. How does the lot size benefit me?
At over 5,000 sqft, the lot is larger than average for the area. This provides more private outdoor space, better potential for landscaping or additions, and often contributes to long-term property value in established neighbourhoods where land is scarce.