Property Overview: 254 Elmhurst Road
Section 1: Key Characteristics & Appeal
This is a classic, one-storey home in the established Varsity View neighbourhood, built in 1943. Its primary appeal lies in its generous 5,383 sqft lot—a significant size that offers ample outdoor space and potential in a mature, central area. The home itself is modest at 615 sqft of living space, presenting a clear opportunity for expansion or renovation to match the lot's potential. With a detached garage and no basement, it offers a simple, low-maintenance footprint.
This property is best suited for a specific type of buyer: those with a vision. It’s an ideal entry point into a desirable neighbourhood for a hands-on individual, a renovator, or an investor looking to add value. The appeal isn't in a move-in-ready condition, but in the underlying asset—the large, well-located lot. It represents a chance to shape a home to one's own tastes on a piece of land that is increasingly rare to find in core areas. A less obvious perspective is its potential for multi-generational living; the sizable lot could accommodate a future secondary suite or addition, providing flexibility that newer, denser subdivisions often cannot.
Section 2: Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. For example, its land area ranks in the top 15% of the neighbourhood, highlighting the lot size as a key strength. Conversely, its living area is smaller than nearly all comparable homes, underscoring the renovation opportunity.
2. Is the house in livable condition, or a complete tear-down?
The listing does not specify. Given the age, assessed value, and square footage, prospective buyers should budget for significant updates or a full rebuild. An inspection is essential to determine the feasibility of renovation versus replacement.
3. What are the advantages of a home with no basement?
It can reduce risks associated with basement moisture, flooding, and foundational issues common in older Winnipeg homes. It also may simplify renovation plans and lower heating/cooling costs for the existing structure.
4. How does the 1943 build year affect things?
It indicates that the core systems (plumbing, electrical, structure) are very old and likely not to current standards. This will be a major factor in financing, insurance, and renovation planning. However, it also means the home was built under different bylaws, which may offer more flexibility for lot coverage or setbacks compared to newer properties.
5. Why is the assessed value relatively low compared to the lot size?
Municipal assessments primarily reflect the current value of the existing building and land. Here, the low living area and age of the dwelling keep the assessment down, as it does not account for the potential value a new or renovated home could bring to such a large lot. The market price will largely reflect that redevelopment potential.