Property Overview
68 Elmvale Crescent is a well-established, one-storey home in Winnipeg's Southboine area. Built in 1977, it sits on a large, 6,076 sqft lot and offers 1,379 sqft of living space with an unfinished basement and an attached garage.
Its primary appeal lies in its generous lot size, which ranks highly within its immediate neighborhood and offers significant potential for gardening, expansion, or outdoor living. The property presents itself as a solid, no-frills foundation in a mature community. It would suit a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who values space over turn-key finishes and sees potential in personalizing a home over time. The unfinished basement is a key feature, representing both a project and an opportunity to add value according to a new owner's specific needs without paying a premium for someone else's renovations.
Key Details & FAQs
Key Characteristics & Ideal Buyer
- Property Type: One-storey bungalow with an unfinished basement and attached garage.
- Lot Size: A standout feature, the 6,076 sqft lot is larger than 94% of properties in the community, offering rare outdoor space.
- Condition & Appeal: A classic 1970s home that ranks average to below average in its immediate area for living space and assessed value, suggesting it is a competitively priced entry into the neighborhood. Its appeal is for those seeking a "blank canvas" on a great piece of land.
- Ideal For: Value-conscious buyers, hands-on owners comfortable with gradual improvements, or investors looking for a property with strong land value and upside through future development or renovation.
Frequently Asked Questions
1. What does the "ranking" data actually mean?
The rankings compare this home against others on its street, in Southboine, and across all of Winnipeg. For example, its lot size ranks in the top 6% of the neighborhood, which is exceptional. Its living space and assessed value rank lower locally, indicating the house itself may be more modest relative to nearby properties.
2. Is the unfinished basement a pro or a con?
It depends on the buyer. It's a cost-saving con if you want immediate, finished living space. It's a significant pro if you prefer to design and finish the space yourself, as it allows for customization (e.g., a suite, workshop, or rec room) without first paying to remove existing work.
3. The home is older—what should I be mindful of?
As a home built in the late 1970s, a thorough inspection of major aging components is essential. Pay special attention to the roof, windows, foundation, and major systems like plumbing and electrical, which may be original or nearing the end of their service life.
4. Who might this property NOT suit?
It may not suit buyers seeking a modern, move-in-ready home without any projects. Those wanting a swimming pool, extensive finished space, or a home that ranks highly in current interior size and finishings within its immediate area might want to look elsewhere.
5. How should I interpret the assessed value?
The municipal assessment of $386,000 is for tax purposes and is typically below market value. That it ranks lower than most homes in the area suggests the city assesses its current improvements (the house) modestly. The market price will be influenced more by the desirable lot size and location.