Property Overview
This 1974 bi-level home at 311 Elmhurst Road offers a well-established presence in the sought-after Varsity View neighbourhood. Its key appeal lies in a combination of generous outdoor space and a solid, efficient footprint. The nearly 8,100 sqft lot is a significant asset, providing ample room for gardening, play, or expansion, and ranks in the top 11% for size across Winnipeg. The home itself features a practical 1,118 sqft layout with a finished basement, presenting a move-in-ready canvas. Its strong city-wide rankings for lot size and assessed value suggest a property that holds inherent, long-term equity in a mature community.
It particularly suits first-time buyers or downsizers seeking a manageable home without sacrificing yard space, and value-conscious investors looking for a stable property in a perennial academic/medical district. The appeal is grounded more in potential and location than in luxury finishes, offering a rare opportunity to own a large lot in a central area without a premium price tag.
Frequently Asked Questions
1. What is the neighbourhood like?
Varsity View is a quiet, established community directly adjacent to the University of Manitoba, offering a blend of academic professionals, long-term residents, and students. It benefits from proximity to extensive university amenities, transit, and cycling paths.
2. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.
3. How does the 1974 build year affect the home?
While the home is over 50 years old, its systems and structure have likely been updated over time. A thorough inspection is recommended to assess the condition of major components like the roof, windows, and foundation, which is typical for homes of this era.
4. What does the "bi-level" design mean for living?
A bi-level typically features a split entry, with living areas spread over two main levels above grade and the finished basement adding additional space. This layout can feel spacious but involves more stairs between daily living zones than a bungalow.
5. Why are the city-wide rankings for lot size and value so high compared to the living area ranking?
This highlights the property’s core value proposition: the land itself is a substantial and increasingly rare asset in the city. The rankings indicate you are purchasing a larger-than-average property with strong assessed value, while the home’s living space is modest and typical for the area. The value is weighted toward the land and location.