Property Overview

This 1985-built, one-storey home on a large, mature lot in Elmhurst offers a practical and comfortable living space. Its key appeal lies in its combination of a spacious, private yard and a fully finished basement, providing ample room for family life, hobbies, or potential rental income. The home's layout is straightforward and functional, suited for those seeking single-level living or ease of access. While not the newest on the street, its assessed value ranks notably higher than most in Winnipeg, suggesting solid underlying value and desirable location fundamentals. This property would suit first-time buyers looking for a move-in-ready home with room to grow, downsizers appreciating the main-floor living and low-maintenance exterior, or investors attracted by the finished basement's income potential. A thoughtful perspective is that its above-average city-wide rankings in value and lot size, paired with a middle-of-the-pack ranking for age within its own neighborhood, indicate a well-established property in a stable area that may offer more space and value than newer builds in denser subdivisions.

Key Details & FAQs

• Key Characteristics: 1,427 sqft bungalow on a 5,579 sqft lot. Features a fully finished basement and an attached garage.
• Lot Size: The property is 5,579 square feet.
• Assessed Value: The municipal assessment is $473,000.
• Year Built: The home was built in 1985.

Frequently Asked Questions

1. What do the ranking percentages actually mean?
They show how this property compares to others in its immediate area and across Winnipeg. For example, its assessed value ranks higher than 78% of all Winnipeg homes, indicating it is in a more valuable segment of the market. Conversely, its age is newer than only 34% of homes on its own street, meaning it's on the older side in that specific location.

2. Is the basement a legal suite?
The listing states the basement is finished but does not specify if it is a legal, rentable suite. This is a crucial point to verify with the seller and the local municipality, as regulations for secondary suites have specific requirements for egress, ceiling height, and kitchen facilities.

3. What is the significance of the lot size ranking?
The lot ranks highly (top 17% on its street), which is a significant asset. In established neighborhoods like Elmhurst, a larger-than-average lot provides more private outdoor space, potential for additions or landscaping projects, and often contributes directly to the property's long-term value.

4. How should I interpret the "middle-of-the-pack" rankings for size and age in the community?
The home's living area and age are fairly typical for Elmhurst. This suggests the neighborhood has a consistent, established character. You're not buying the biggest or newest house, but you're also not buying an outlier; it represents a standard offering in a stable community, which can be a prudent choice.

5. What might explain the higher city-wide value ranking compared to its community ranking?
While its value ranks in the top 37% within Elmhurst, it jumps to the top 22% city-wide. This often happens with homes in established, mature neighborhoods that offer larger lots and more space compared to newer, denser developments. It suggests you are paying a premium for the lot and location within Winnipeg, not just the house itself.