Property Overview: 673 Elmhurst Road
Key Characteristics & Appeal
This 1972 bi-level home sits on a large, approximately 6,900 sqft lot in Winnipeg's Elmhurst neighborhood. With 945 sqft of living space and a finished basement, it offers a practical layout for everyday living. The home's standout feature is its land, placing it in the top 18% of Winnipeg properties by lot size, which provides ample outdoor space and potential. Its 2022 sale price of $403,000 exceeded its current assessed value of $358,000, indicating a recent market vote of confidence.
The appeal here is grounded in space and value within a mature community. It suits first-time buyers or downsizers looking for a manageable home with a generous yard, without the premium of a newer build. It’s also a candidate for buyers with longer-term vision; the large lot and the existing bi-level structure present future opportunities for expansion or landscaping projects that a smaller parcel wouldn't allow. While the interior square footage is modest, the finished basement effectively extends the living area, making it more functional than the main floor square footage alone suggests.
Frequently Asked Questions
1. How does the lot size compare to others?
The property’s lot is a significant asset, larger than 82% of all residential lots in Winnipeg. This places it well above average for the city and is a key differentiator in the neighborhood.
2. The home seems smaller inside than the lot suggests. Is it expandable?
The bi-level design and substantial lot do create potential for future additions, such as a main floor extension or a rear deck/patio complex. Any plans would, of course, be subject to municipal zoning and permitting.
3. Why is the current assessed value lower than the 2022 sale price?
Municipal property assessments for taxation purposes often lag behind current market fluctuations and may not reflect specific upgrades or recent sale prices. The 2022 sale is a more recent indicator of its market value.
4. What does the "finished basement" entail in a bi-level?
In a bi-level, the lower level is partially above ground, typically with larger windows than a standard basement. A finished basement here likely means legitimate living spaces—such as a family room or extra bedrooms—with better natural light than a conventional cellar.
5. The home ranks lower for interior size within the community. Will it feel cramped?
While the above-grade square footage is modest, the finished basement effectively doubles the usable living area. For buyers who prioritize room to spread out outside over vast interior rooms, this trade-off can be a strategic choice. The layout and flow will be key factors during a viewing.