Property Overview
7 Epsom Crescent is a well-situated, one-storey home in Winnipeg's Elmhurst neighbourhood. Built in 1967, its key appeal lies in its generous 7,278 sqft lot—a significant size that ranks within the top 15% of all properties in Winnipeg for land area. The home itself offers 1,115 sqft of living space with a finished basement and a detached garage. While the house is of average size for its area, the property's standout feature is its expansive, private outdoor space, which is increasingly rare. The current assessed value of $440,000 ranks it above average for the city, suggesting solid intrinsic value.
This home would particularly suit first-time buyers or downsizers looking for a manageable single-level layout in a mature community, with the bonus of a large yard for gardening, children, or pets. It's also a compelling option for a long-term holder who values land over a modern floor plan, seeing potential in the lot itself. A thoughtful perspective is that while the home's age and interior size are common, the lot offers a "blank canvas" element for future expansion or landscaping that newer subdivisions often cannot match.
Frequently Asked Questions
1. How does the home's age affect its condition and value?
Built in 1967, the home is nearly 60 years old. This typically means some systems (like plumbing or electrical) may need updating, but it also comes with a character and lot size not found in newer builds. Its above-average assessed value indicates the property, particularly the land, is holding value well despite the home's age.
2. Is the large lot a benefit or a burden?
Primarily a significant benefit, it offers privacy, space for recreation, and future potential. However, it does mean more yard maintenance. For buyers who enjoy gardening or outdoor living, it's a major asset.
3. Who would this property not suit?
It may not suit buyers seeking a modern, open-concept layout or a brand-new, low-maintenance home. The floor plan and finishes will reflect its era. It also may not fit those who prefer a very large interior living space, as the home's square footage is modest relative to its lot.
4. The assessment is $440,000, but it last sold for $350,000 in 2017. What does this mean?
The 2017 sale price is a historical data point. The current assessment reflects the municipal government's estimate of its market value for taxation purposes as of a specific date, considering factors like overall market increases and the property's attributes. It is a guideline, not a sale price.
5. What do the ranking percentages (e.g., "top 15% for land") actually tell me?
These rankings compare this property directly to others on its street, in Elmhurst, and across all of Winnipeg. For example, being in the top 15% for land size in Winnipeg is a strong, objective indicator of one of this property's greatest competitive advantages. Conversely, rankings for age show it is an older home even for its mature neighbourhood.