This 1945-built one-and-a-half storey home on a large 6,713 sqft lot presents a classic Winnipeg character home with significant potential. Its primary appeal lies in the substantial, established lot in the Elmhurst neighbourhood, offering space and privacy that is harder to find with newer builds. With 1,370 sqft of living space and an unfinished basement, it suits buyers looking for a project—whether that’s a gradual renovation, an expansion, or a long-term hold on a valuable piece of land. It’s particularly well-suited for a handy buyer or an investor who sees value beyond the current finishes, appreciating the solid foundation and the opportunity to customize. The home’s rankings reveal a nuanced position: while its age places it among the older homes in the area, its lot size and living space are competitively above average for the city, suggesting the underlying asset strength is in the land and the structure’s footprint.
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What does the "one-and-a-half storey" design mean for living space?
Typically, this style features main living areas on the ground floor with bedrooms or additional space in a finished or finishable upper level with sloped ceilings. It's a charming, efficient layout common to the era but may have unique room shapes.
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The house is older. What should I budget for immediately?
While systems like roofing, plumbing, and electrical may have been updated over time, a pre-purchase inspection is crucial. Given the age, budgeting for potential updates to these core systems is a prudent first step, alongside any cosmetic renovations.
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How significant is the large lot size?
A lot of over 6,700 sqft is a major asset. It provides ample yard space, potential for gardening, additions, or a future garage, and generally holds value well. It's a feature that is increasingly rare and cannot be replicated in newer subdivisions.
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The basement is unfinished. Is that a drawback or an opportunity?
This is a key opportunity. It allows a new owner to customize the space to their needs—whether for storage, a workshop, or future living space—without needing to undo previous renovations. It does mean that immediate living space is limited to the main floors.
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The assessment value is lower than some area homes. How should I interpret this?
The municipal assessment is for tax purposes and reflects factors like age and current condition, not necessarily market potential or land value. It can sometimes mean relatively lower property taxes, but the market price will be determined by the lot's value, the home's condition, and renovation potential.