Property Overview: 2 Milan Street, Winnipeg

This 1977-built, one-storey home in Elmhurst presents a compelling opportunity for a specific type of buyer. Its key appeal lies in the combination of a generous, mature lot and a functional, updated living space. With a land area of over 7,100 sqft, the property offers significant outdoor space—a notable asset in the city—and features a finished basement and an attached garage. The home’s 2022 sale price significantly exceeded its current assessed value, suggesting a recent, market-driven purchase and potential for value stability.

The property is best suited for buyers who prioritize space and location over a brand-new build. It would appeal to a young family seeking a large yard in a long-established neighborhood, or to a practical buyer looking for a home with immediate livability and the long-term potential that a sizable lot provides. Its rankings indicate it is a competitively sized property city-wide, though it is older than many homes in its immediate area. The appeal here is grounded in substance over flash: solid square footage, ample land, and a ready-to-move-in condition.

Frequently Asked Questions

1. How does the 2022 sale price compare to the current asking price?
The home sold for $571,000 in August 2022, which is well above its current municipal assessment of $448,000. This indicates a recent market transaction and suggests the sellers have contemporary equity in the property.

2. What is the significance of the lot size and rankings?
At 7,194 sqft, the lot is substantially larger than the average Winnipeg property, ranking in the top 16% city-wide. This is a major feature, offering rare space for gardening, play, or expansion in the city.

3. Is the home’s age a concern?
Built in 1977, the home is older than most in its specific neighborhood and street. Buyers should factor in the potential for age-related maintenance, though the finished basement and recent sale history suggest it has been actively maintained and lived in.

4. What type of layout can be expected from a "One Storey" design?
A one-storey or bungalow layout typically offers all main living areas on a single level, which can be ideal for accessibility or for those who prefer to avoid stairs. The finished basement would then provide additional flexible space for recreation, guests, or storage.

5. The community ranking for size is middle-of-the-road. What does that mean?
While the home’s living area (1,334 sqft) is above average for Winnipeg, it is fairly typical for the Elmhurst neighborhood itself. This means you get a solidly sized home that fits the community standard, with the standout feature being the much larger-than-average yard.