Property Overview
This one-and-a-half storey home on a large, nearly 9,000 sqft lot in Elmhurst offers a compelling mix of space, location, and potential. Its key appeal lies in its generous, private yard—a rarity that ranks in the top 8% for size across Winnipeg—paired with a home that provides solid living space, ranking above average for its street and the city. The property suits buyers looking for a long-term home with room to grow outdoors, who value established neighborhoods over new construction, and who are comfortable with a home of vintage character. It's particularly well-suited for those who see potential in an unfinished basement and appreciate that the core structure and lot provide a strong foundation for future updates. A thoughtful perspective is that while the 1948 build date places it in the older segment for the area, this often translates to mature landscaping, settled foundations, and a well-established streetscape. The significant jump in assessed value since its 2019 purchase suggests substantial improvements or strong market movement, indicating a well-maintained or updated asset.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings show how this property compares to others in specific areas. For example, its lot size is exceptionally large (top 8% in Winnipeg), while its build year is more typical for an older neighborhood. This highlights a property with land value and expansion potential, rather than a modern build.
2. Is the unfinished basement a major drawback?
Not necessarily. For many buyers, an unfinished basement represents customizable space and avoids the cost of removing outdated finishes. It provides essential infrastructure (like laundry and utilities) while leaving the option to finish it to your specific needs and budget.
3. The home is older. What should I prioritize in an inspection?
Given its 1948 construction, a thorough inspection should focus on the foundational integrity, the state of the roof, wiring, and plumbing updates, and the overall envelope (windows, insulation). The age also means the home likely has solid, real wood construction in key areas.
4. How does the 2019 sale price relate to the current assessment?
The assessed value is typically for taxation purposes and reflects the municipal valuation, not necessarily market price. The increase since 2019 indicates the city recognizes added value from renovations or market trends, but the final sale price will be determined by current market conditions.
5. Who would this property not be ideal for?
It may not suit buyers seeking a move-in-ready, modern home with no projects, or those who prioritize a brand-new build in a developing area. It also might not fit buyers who prefer a low-maintenance, small yard.