Property Overview & Key Characteristics
This is a well-established, one-storey home on a generous, mature lot in Elmhurst. Its primary appeal lies in its solid foundation and space, both inside and out. The 950 sqft bungalow layout offers single-level living, complemented by a finished basement that adds functional space. With a large 6,899 sqft property, there is significant outdoor potential for gardening, play, or expansion. The home’s assessed value positions it as a practical entry point into the neighbourhood.
Its key stats reveal a nuanced picture: while the living area is modest compared to many local homes, the lot size is a standout asset. The property ranks highly city-wide for lot size and assessed value, suggesting a strong underlying land value for the price. It would suit first-time buyers seeking a manageable home with room to grow, downsizers looking for a bungalow with a low-maintenance yard, or value-focused investors attracted by the finished basement and the lot’s long-term potential.
Frequently Asked Questions
1. How does the home’s size compare to others in the area?
At 950 sqft, the living area is below average for both the immediate street and the wider Elmhurst community. This indicates a more compact, efficient layout rather than a sprawling home, which can be a benefit for lower utility costs and easier upkeep.
2. What does the high city-wide ranking for lot size mean?
Ranking in the top 18% in Winnipeg for lot size is significant. It means you are purchasing proportionally more land than most properties in the city, which is often a key driver for future value and offers rare outdoor space for the area.
3. Is the 1972 build date a concern?
The home is over 50 years old, so a thorough inspection of major systems (roof, wiring, plumbing, foundation) is essential. However, it ranks newer than 70% of homes on its own street, indicating the immediate area is well-established and stable.
4. Who might the finished basement suit?
The finished basement adds valuable flexible space. It could serve as a recreation room, a separate area for a home office or teenager’s retreat, or potential rental income (subject to local bylaws).
5. How should I interpret the mixed neighbourhood rankings?
The home ranks higher for lot size but lower for living area and assessed value within Elmhurst. This suggests it’s a competitively priced option that offers land and location, making it a strategic choice for buyers who prioritize outdoor space and are comfortable with a cozier interior floor plan.