Property Overview
This 1962 one-storey home on a sprawling 23,568 sqft lot in Elmhurst presents a unique proposition. Its primary appeal lies not in the 1,155 sqft living space, but in the immense, private grounds—a rarity within the city that places it in the top 1% of properties locally for lot size. The home features a finished basement and a detached garage. While the house itself is of average size for the area and its age places it among the older homes in the community, the property’s assessed value ranks highly, indicating the significant premium commanded by the land. This creates a clear value dynamic: it’s a property for those who see the land as the main asset.
It would perfectly suit a buyer with a vision for outdoor living, gardening, or future expansion, who is comfortable with a home that may require updates. It’s also a strategic purchase for those prioritizing long-term land value in a well-established neighborhood over a modern, turn-key home. The trade-off is evident: unparalleled outdoor space comes with a house that has modest rankings for its size and age within its immediate community.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
The property’s lot size is larger than 99% of homes in Winnipeg, making it exceptionally private and offering potential for additions, extensive gardens, or recreational space that is very hard to find in the city.
2. The house ranks lower for age and size in the community. Is this a concern?
These rankings highlight the property’s dynamic. You are purchasing primarily for the land. The house is a functional, older bungalow on a premier lot, so expectations should be set accordingly for the dwelling itself, with potential for renovation.
3. Why is the assessed value so high relative to the home's specs?
Municipal assessments heavily factor in land value. The high assessment (top 20% in Winnipeg) reflects the premium value of the nearly half-acre lot, not the structure, confirming the land’s significance as the key asset.
4. Is the basement included in the 1,155 sqft living area?
No. The 1,155 sqft refers to the above-ground living space. The finished basement provides additional, separate area, which is a valuable feature for storage, recreation, or flexible living space.
5. What is the neighborhood like?
Elmhurst is a mature, established neighborhood. The high lot-size ranking within the community itself (top 1%) suggests this is one of the largest and most private properties in the area, offering a secluded feel while still being conveniently located.