Property Overview & Key Characteristics
This 1961-built, single-story home sits on a large, approximately 9,800 sqft lot in Elmhurst. Its primary appeal lies in the combination of generous outdoor space and a practical, fully finished basement, offering more usable space than the 1,063 sqft main floor suggests. The property ranks highly for its lot size within the wider community and Winnipeg, placing it in the top 6% city-wide for land area. This presents a notable opportunity for buyers who value room to garden, play, or potentially expand outdoors.
The home would suit practical buyers looking for solid value in a mature neighbourhood. It's ideal for those who prioritize land over a large interior footprint or a newer build. The finished basement adds flexible living space, making it a fit for small families, couples needing a home office/guest space, or downsizers who still want room for hobbies or visiting family. Its rankings indicate it's a competitively sized property on its lot, but buyers should be prepared for the updates and maintenance typical of a home from the 1960s.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg. For example, being in the "top 6%" for lot size in Winnipeg means 94% of homes in the city sit on smaller lots. Conversely, its build year ranking shows it is older than most homes in its immediate community.
2. Is the large lot a development opportunity?
While the lot size is a significant asset, any potential for subdivision or significant expansion would require thorough investigation with the City of Winnipeg's planning department, considering zoning bylaws and setback requirements that may not be apparent from the listing data.
3. What are the implications of a 1961 build year?
This means the core systems of the home (like plumbing, electrical, and the foundation) are over 60 years old. A pre-purchase inspection is crucial to understand the condition and remaining lifespan of these components, which can inform renovation priorities and budgeting.
4. How does the "finished basement" factor into the value?
A finished basement adds valuable living space but does not typically contribute to the official square footage or assessment value in the same way as above-grade space. Its quality, ceiling height, moisture control, and compliance with building codes should be evaluated to assess its true utility and condition.
5. The assessment value is noted, but what does that mean for the selling price?
The municipal assessment ($357,000) is for taxation purposes and is based on a mass appraisal system. It can be a general indicator, but the final selling price is determined by the current market, the home's specific condition, and buyer demand. It's common for sale prices to be above or below the assessed value.