984 Elizabeth Road – Property Summary
Key Characteristics & Buyer Profile
This 953 sqft bungalow built in 1958 sits on a 5,669 sqft lot in Winnipeg’s Windsor Park neighbourhood. What stands out is the value-to-size ratio: the home ranks in the top 11% on its street for assessed value ($398k), but its living area is below average at the street, neighbourhood, and city levels. In other words, you’re paying for land and location, not square footage. The lot itself is generous relative to others on Elizabeth Road (top 31%), though slightly below the Windsor Park average. The year built is typical for the area.
Its appeal lies in the disconnect between a modest floor plan and an above-average valuation. This isn’t a home for someone after turnkey space or a modern open layout. It suits buyers who prioritize a solid lot in a stable, older neighbourhood—possibly for a future renovation, addition, or as a starter home where the land carries more weight than the house. Investors or flippers might also see potential, given the assessed value already sits above nearby comparables. The home’s age (1958) suggests original character and possibly lower carrying costs, but also likely needs updating.
Five Possible FAQs
1. Why is the assessed value so much higher than the street average when the house is smaller than most?
Assessed value considers more than living area—lot size, location, and recent sales of similar properties all factor in. Here, the larger-than-average lot (5,669 sqft vs. 4,596 on the street) and Windsor Park’s strong local market likely drive the number up. It’s a case where land value dominates over structure size.
2. How does this home compare to others in Windsor Park overall?
It’s a mixed picture. The assessed value is in the top 9% of the neighbourhood, but living area is in the bottom third (top 79% means only 21% are smaller). The lot is below the neighbourhood average (5,669 vs. 6,030 sqft), but still above most on its own street. So it’s “above average” for value, “below average” for space—a classic trade-off in older, established areas.
3. Is this a good candidate for an addition or major renovation?
Potentially yes. The lot is decent at street level, and the existing structure is from 1958, meaning it likely has a simple layout and older finishes. But check zoning and setback rules in Windsor Park before planning any expansion—some older neighbourhoods have strict limits. The assessed value already reflects a premium, so you’d want to ensure renovation costs don’t push the total past what the market will support.
4. How does the year built affect insurance or maintenance?
Homes from the late 1950s often have knob-and-tube wiring, cast iron plumbing, or asbestos in flooring or insulation. Not a given, but common. Insurance may be higher or require an electrical upgrade. Budget for a thorough home inspection, especially for the roof (likely original or second-generation), furnace, and windows. The “around average” ranking means it’s typical for the era, not unusually old or recent.
5. Why is the living area ranked “below average” but the home still sells at a premium?
Because buyers in Windsor Park aren’t just buying square footage—they’re buying into a neighbourhood with established trees, decent lot sizes, and proximity to amenities. Small bungalows on good lots are common in mature areas like this. The premium reflects scarcity of land, not the house itself. If you need 1,200+ sqft, this isn’t it. But if you value location and potential upside from improvements, the numbers make sense.