Property Overview: 637 Elmhurst Road
This well-situated Elmhurst bi-level home presents a practical and value-conscious opportunity in Winnipeg. Built in 1970, its key appeal lies in its generous 6,887 sqft lot—a significant asset that ranks within the top 18% of all properties in the city for size. The home itself features a finished basement and a split garage, offering functional living and storage space. With a recent assessed value of $362,000, it positions itself as a competitively priced entry into a mature neighborhood.
The property’s strengths are grounded in its land value and location rather than its interior square footage (829 sqft). It would particularly suit first-time buyers or downsizers seeking a manageable home with ample outdoor space for gardening, recreation, or future expansion. It also appeals to value-driven investors or renovators who see potential in the substantial lot and are comfortable with a home that offers solid fundamentals over modern finishes. A thoughtful perspective is that while the living area ranks lower in size comparisons, the finished basement effectively expands usable space, making it more livable than the main floor square footage alone suggests.
Frequently Asked Questions
1. How does the property’s value compare to the neighborhood?
The home’s current assessment ranks higher than 82% of Winnipeg properties overall but is more middle-of-the-pack within its immediate community and street. This suggests you are paying a premium for the city-wide desirable lot size, while the home itself is typical for the local area.
2. Is the house in need of major updates?
Given its 1970 construction date, which is older than 84% of homes in the community, buyers should budget for potential updates to major aging components like the roof, windows, or mechanical systems, even if they are currently functional.
3. What does the "finished basement" include?
The listing confirms a finished basement but does not specify the details. A viewing is essential to determine the quality, ceiling height, legal egress, and whether it includes a bedroom, bathroom, or simply finished recreational space.
4. Why is the lot size considered a key feature?
At nearly 6,900 sqft, the lot is substantially larger than average. This not only provides more private outdoor space but also represents a long-term investment in land, which is scarce. It offers flexibility for additions, landscaping, or simply more distance from neighbors.
5. The last sale was in 2019 for $290,000. What does that mean for today’s price?
The 2019 sale price provides historical context, showing market appreciation since then. The current assessed value of $362,000 reflects the city’s valuation for tax purposes, but the final sale price will be determined by current market conditions, the home’s state, and buyer competition.