Property Summary: 4421 Eldridge Avenue, Winnipeg
Key Characteristics & Appeal
This is a unique, one-storey home built in 1960, sitting on an exceptionally large, half-acre lot (21,766 sqft). Its primary appeal lies in this rare land size, which places it in the top 1% of all properties in Winnipeg for lot dimensions. The home itself is modest at 1,028 sqft, featuring a finished basement and a detached garage. While the house is older and its living space is below average for the area, the property's tremendous value is in its land and potential. It ranks highly for lot size but lower for the age and size of the dwelling, indicating a property where the land asset significantly outpaces the current structure.
This home would perfectly suit a buyer with a vision for the future—whether that's enjoying immense private outdoor space for gardening or recreation immediately, or seeing the long-term potential for expansion, redevelopment, or building a new home. It’s also a strong match for those seeking an entry point into a desirable neighbourhood, willing to live in a smaller, character home while holding a truly premium parcel of land.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in the Eric Coy neighbourhood, and across all of Winnipeg. For example, being in the top 1% city-wide for lot size is a major advantage, while rankings for the home's age and living area indicate the existing house is more typical or below average for the area.
2. Is the land subdividable?
This is a critical question given the lot size. While the property has clear potential, any subdivision would require a thorough review with the City of Winnipeg’s planning department to check zoning bylaws, minimum lot sizes, and utility access.
3. What is the condition of the finished basement?
The listing notes a finished basement, but specifics on quality, ceiling height, moisture control, and legal egress are important to clarify, as finishes in a 1960s home can vary widely.
4. How does the assessed value relate to the asking price?
The city's assessed value is $398,000 for tax purposes. A buyer should understand that the market price is often influenced by additional factors, especially here, where the value is heavily weighted toward the land's development potential rather than just the existing home.
5. What are the immediate costs or updates expected?
Given the home's age, a pre-purchase inspection is essential to understand the state of major systems (roof, plumbing, electrical, foundation) and to budget for any necessary updates or repairs to make the home comfortable, separate from any long-term land plans.