Property Overview
This 1971-built, one-storey home on a generous 7,199 sqft lot in Elmhurst presents a practical and value-oriented opportunity. Its key appeal lies in its solid foundation and space, both inside and out. The 1,080 sqft living area includes a finished basement, adding functional space, while the large lot offers significant outdoor potential. The split garage is a useful feature for storage or workshop space. With an assessed value that ranks within the top 30% city-wide, it suggests a property with established equity in a mature neighbourhood.
The home suits first-time buyers seeking a manageable single-level layout with room to grow, or value-focused investors looking for a property with strong land value and rental potential. Its above-average lot size and city-wide assessment ranking are less obvious strengths, indicating a footprint that is increasingly rare and a valuation that may provide stability. It’s a home for those who see potential in a well-located blank canvas rather than a turn-key finish.
Frequently Asked Questions
1. What is the neighbourhood like?
Elmhurst is a mature, established neighbourhood in Winnipeg. The property's rankings show it performs well within its immediate community and street, suggesting a consistent and stable area.
2. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.
3. What does the assessment ranking mean?
The home’s assessed value is higher than 70% of all Winnipeg properties, indicating its municipal valuation is relatively strong compared to the broader market, which can be a positive factor for equity.
4. Is the home suitable for someone wanting no stairs?
As a one-storey design with a finished basement, the primary living areas are on one level. However, access to the basement does involve stairs.
5. What are the typical maintenance considerations for a home of this age?
Built in 1971, prospective buyers should budget for updates to major aging components, such as the roof, windows, and heating system, while appreciating the character and established landscaping of a 55-year-old property.