Property Overview: 371 Lilac Street, Earl Grey, Winnipeg

Key Characteristics & Appeal

This two-storey home in the established Earl Grey neighbourhood presents a compelling blend of space, location, and value. Its key characteristic is its generous 1,842 sqft of living area, which places it well above average for both the street and the highly regarded Earl Grey area. This is complemented by a renovated basement, adding functional living space. The property stands out on its street with an elite-sized lot of over 4,400 sqft, offering rare outdoor space and potential for a mature buyer seeking privacy or a family wanting room for play and gardening. Built in 1953, it is a more modern offering compared to many heritage homes in the area, potentially meaning fewer immediate updates.

Its appeal lies in its strong positional metrics. The home ranks in the top tiers for both living area and assessed value within Earl Grey, suggesting a property that is both substantial and recognized for its worth in a desirable community. The detached garage adds practical utility. It would suit buyers looking for a move-in ready home with ample indoor and outdoor space in a prime, central neighbourhood—particularly those who value established communities over newer subdivisions and appreciate a home that offers more modern comforts than many of its older neighbours.

Frequently Asked Questions

1. How does the 1953 build year compare to the rest of Earl Grey?
While many homes in Earl Grey date to the early 1900s, this 1953 build is notably newer. This often translates to more modern construction standards and layouts, potentially requiring less immediate investment in major system updates compared to century-old homes, while still residing in the mature, tree-lined neighbourhood.

2. The assessed value seems low compared to the last sale price. Why is that?
The assessed value (used for municipal tax calculation) is often significantly lower than market value. The home last sold for $450k in 2019. The key takeaway from the data is that its assessed value ranks in the top 2% for Earl Grey, indicating it is considered a high-value property relative to its peers for tax purposes.

3. What does the "elite" lot size ranking mean for this property?
Ranking in the top 4% for land area on its street means this lot is exceptionally large for the immediate area. This is a less obvious but significant asset, providing more privacy, landscaping opportunities, and space between neighbours than is typical, which is often a premium in mature neighbourhoods.

4. Is the living space efficiently configured?
At 1,842 sqft, the living area is substantial. The presence of a renovated basement suggests this space is finished and habitable, effectively increasing the usable square footage beyond the official figure. Prospective buyers should verify the layout and ceiling height of the basement renovation to understand its full utility.

5. How does this home fit within the current market on Lilac Street?
The data shows this home is above average in nearly every metric for its own street. It has more living space, a larger lot, and a higher assessed value than most comparable homes nearby. This positions it as one of the more prominent properties on the block, which can be advantageous for both enjoyment and long-term value.