Property Overview: 4427 Eldridge Avenue
This well-situated one-storey home in Winnipeg's Eric Coy neighbourhood presents a practical opportunity for a specific type of buyer. Built in 1968, its core appeal lies not in modern finishes but in its generous, established setting and functional layout. The property sits on a notably large lot of over 9,200 square feet, offering substantial outdoor space that is increasingly rare. With a finished basement, a split garage, and a manageable 945 sqft of living space above grade, it functions as a complete, no-frills package. Recent sale activity in 2023 suggests a stable and recognized value in the market.
Key Characteristics & Ideal Buyer
The primary advantage here is space and stability. The lot size is a standout feature, ranking in the top third for the street and top 8% city-wide, providing ample room for gardening, play, or future expansion. The home itself is modest in size, which translates to lower utility costs and easier maintenance. Its appeal is grounded in practicality: it's a move-in-ready home with a finished basement for extra living area, all on a quiet street in a mature community. This property would suit first-time buyers seeking a solid starter home with a large yard, downsizers looking for single-level living without sacrificing outdoor space, or value-focused investors interested in a property with strong land value and rental potential. It’s for those who prioritize land size and neighbourhood character over a modern, renovated interior.
Frequently Asked Questions
1. What is the true value of the large lot?
Beyond the obvious benefit of a big backyard, a lot of this size (ranking in the top 8% in Winnipeg) offers long-term flexibility. It provides exceptional privacy from neighbours, room for additions like a shed or deck, and is a key asset that typically appreciates independently of the home itself.
2. How does the 1968 build year affect the home?
While the home is older and may feature original elements, its systems and structure have stood the test of time. Buyers should budget for updates to major aging components (like roof, windows, or furnace) but can be confident in a well-proven building footprint and neighbourhood maturity.
3. Is the finished basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. A buyer interested in rental income must investigate with the city to confirm zoning and licensing requirements, as creating a legal suite would require specific upgrades and approvals.
4. Why did it sell recently in 2023?
The recent sale indicates active market interest. It could reflect a straightforward transaction, an estate sale, or an investor purchase. The current price will reflect any changes or market movement since that last sale.
5. How energy-efficient is this home?
Given its age and size, utility costs are likely manageable, but efficiency will depend on past updates. Inquiring about the age of the furnace, hot water tank, insulation, and windows will provide a clearer picture of ongoing operating costs.