Property Overview
This 1970s one-storey home in Elmhurst presents a practical and spacious family offering. Its key appeal lies in the combination of a large, 8,136 sqft lot and a fully finished basement, providing significant room for living and potential. With 1,185 sqft of living space above grade, it ranks competitively within its immediate area for size. The home suits buyers looking for a solid, single-level layout in a mature neighbourhood, particularly those who value ample outdoor space over a newer build. Its strong city-wide ranking for lot size (top 11%) suggests a property where the land itself is a major asset, appealing to long-term owners who might envision garden projects, expansions, or simply enjoy the rarity of such a large parcel in the city. The decor and systems will likely reflect its era, making it a candidate for buyers comfortable with gradual updates.
Frequently Asked Questions
1. How does the age of the home (56 years) affect its value and appeal?
While newer homes rank higher locally, the property’s overall value is bolstered by its very large lot and finished basement. It appeals to buyers who see potential in a well-located property and are prepared for the maintenance that comes with an older home, viewing it as a trade-off for land size and established neighbourhood character.
2. The assessment value is lower than some nearby homes; what does this indicate?
The municipal assessment of $371,000, which ranks in the middle tiers, is a formula for tax purposes and doesn't necessarily reflect market value. It can sometimes indicate an opportunity, especially paired with the home's strong rankings for lot size, suggesting the land itself may be under-improved relative to its potential.
3. Is the split garage a drawback?
A split garage (likely a double garage separated by a wall) offers less flexible space than a completely open double garage but is common for the era. It provides two separate bays, which can be a benefit for storage organization or if one side is used as a workshop.
4. What is the significance of the neighbourhood and street rankings?
The rankings show the home performs very well in lot size across Winnipeg but is more average in its immediate Elmhurst area for metrics like age and assessed value. This suggests you're buying into a desirable, established community where this property is a solid, mid-tier offering rather than a standout luxury home.
5. What should I consider with a fully finished basement from this era?
A finished basement from 1970 adds valuable living space but warrants a careful inspection. It’s important to check for moisture issues, the quality of the finishing work, ceiling height, and whether the electrical and insulation meet modern expectations. It’s a great feature, but understanding its condition is key.