Property Overview & Key Characteristics
This 1972-built, one-storey home in Elmhurst offers a practical layout with 892 sqft of living space and a fully finished basement, situated on a generous 7,174 sqft lot. Its key appeal lies in its established, quiet neighbourhood and its notable land size, which provides ample outdoor space and ranks within the top 16% of all properties in Winnipeg for lot dimensions. While the house itself is modest in size and of a classic vintage, the property data reveals a compelling position: it outperforms 84% of Winnipeg homes in lot size and is newer than 51% of homes city-wide. The assessed value is positioned accessibly, below the mid-point for the city.
This home would suit first-time buyers, downsizers, or practical investors looking for a solid entry into the market with a low-maintenance, single-level layout. Its true potential is for a buyer who values a larger, private yard over a large interior footprint and who sees the value in a home that is well-established within its community. It’s a property where the land is a significant asset, offering room for gardening, play, or future expansion, appealing to those with a long-term view.
Frequently Asked Questions
1. How does the age of the home affect its condition and costs?
Built in 1972, major components like the roof, windows, and mechanical systems are likely at or beyond their typical lifespan. A thorough inspection is essential to budget for potential updates, though the home's age is fairly average for the broader Winnipeg market.
2. What are the advantages and disadvantages of not having a garage?
The lack of a garage means lower maintenance and property taxes, but it requires alternative solutions for vehicle parking and storage. The large lot, however, does offer space to potentially add a shed or future parking structure, subject to local bylaws.
3. The living area is noted as modest. How does the finished basement help?
The fully finished basement effectively doubles the usable living space, providing crucial room for a family room, home office, or additional bedrooms that the main floor may not accommodate, making the home more functional than the square footage suggests.
4. The assessment seems lower than some expectations. What does this indicate?
The assessment reflects the municipal valuation for tax purposes, not market value. Its position—surpassing 41% of Winnipeg homes—suggests it is viewed as a solid, mid-tier property. Market value can be higher or lower based on condition, updates, and current buyer demand.
5. The rankings show strong lot size but lower scores for living area. What does this mean for me?
This highlights the property's core dynamic: you are primarily investing in the land and location. It's an ideal fit if you prioritize outdoor space and neighbourhood character over a large interior. For growing families needing extensive indoor space, the layout may feel constrained without utilizing the basement area fully.