Property Summary: 603 Elmhurst Road
Section 1: Key Characteristics & Appeal
This well-situated 1970s bungalow on a large 7,800 sqft lot offers a practical and comfortable living space of 1,092 sqft, complemented by a finished basement. Its key appeal lies in a combination of established neighbourhood character, generous outdoor space, and recent market validation, having sold for $486,000 in May 2024—significantly above its assessed value.
The home is particularly suited to first-time buyers or downsizers seeking a manageable single-level layout in a mature area. Its above-average lot size for the street provides room for gardening, play, or future expansion, a valuable asset in an established community. The strong performance in value rankings—outpacing 88% of Winnipeg homes in lot size and 80% in its recent sale price—suggests it sits in a desirable pocket of Elmhurst, likely appealing to those looking for a balance of affordability and long-term stability. It’s a property for buyers who value solid fundamentals (space, location, recent sale history) over modern finishes, seeing potential in the land and the solid foundation of the structure itself.
Section 2: Frequently Asked Questions
1. How does the recent sale price compare to the assessment?
The home sold for $486,000 in May 2024, which is approximately $70,000 above its current assessed value of $416,000. This indicates strong buyer demand for this specific property and location.
2. What does the "finished basement" include?
The listing confirms a finished basement but does not specify the details of the finish, rooms, or ceiling height. A viewing or inquiry with the listing agent is necessary to understand the layout and quality of the basement space.
3. Is the property older, and what might that mean for maintenance?
Built in 1970, the home is over 50 years old. Buyers should be prepared for potential updates or maintenance related to aging components, such as the roof, windows, plumbing, or electrical systems. A thorough home inspection is highly recommended.
4. The lot is large, but how is the house size relative to the neighbourhood?
While the lot is larger than 88% of properties in Winnipeg, the house itself (1,092 sqft) is slightly below the median size for its immediate street and community. This suggests a home that makes efficient use of space and offers a greater proportion of yard versus living area.
5. What do the community rankings for "year built" indicate?
The home is newer than only 16% of properties in the broader Elmhurst community, meaning most surrounding homes are older. This can suggest a well-established, stable neighbourhood with mature landscaping, but it also means fewer recently built homes in the immediate vicinity.