Property Overview: 257 Elmhurst Road
Key Characteristics & Appeal
This is a classic 1942 one-storey home in Varsity View, situated on a generous 5,382 sqft lot. With 803 sqft of living space and a finished basement, it offers compact but functional living. Its core appeal lies in its location and the potential of its large lot. The home ranks highly within its immediate area for lot size, placing in the top 14% of the neighborhood, which is a significant advantage in an established community.
The property suits two primary types of buyers. First, it's a practical entry point for first-time buyers or downsizers seeking an affordable home in a central, mature neighborhood. Second, it appeals to value-oriented investors or renovators who see the underlying asset: a large, well-located parcel of land with an older home that presents a clear opportunity for modernization or redevelopment over time. A less obvious perspective is its appeal to those who prioritize outdoor space over interior square footage; the lot offers room for gardens, play areas, or expansion that is rare for the price point in this area.
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, ranking in the "top 46%" for lot size city-wide means its lot is larger than 54% of all Winnipeg properties, a notable strength for its age and location.
2. Is the house in original condition?
Built in 1942, the home is 84 years old. The data indicates it is older than most homes in its immediate area (ranking in the top 95% for age, meaning only 5% are older). Buyers should budget for updates consistent with a house of this era, though the basement has already been finished.
3. Why is the assessed value ranking relatively low?
The assessment ranks in the top 81% city-wide, meaning it's assessed lower than most Winnipeg homes. This typically reflects the home's age, smaller size, and original condition compared to newer or renovated properties, not necessarily the land value.
4. What are the implications of having no garage?
The lack of a garage is common for homes of this vintage. It provides more usable yard space but requires alternative planning for vehicle parking and storage. This is a key consideration for buyers with multiple vehicles or storage needs.
5. Who is this property not well-suited for?
It may not suit buyers seeking a modern, move-in-ready home without renovation projects, or those who require significant interior space and multiple bedrooms on the main floor. The appeal is grounded in location, lot potential, and value, rather than immediate modern comfort.