3481 Beiko Avenue

Property Overview: 3481 Beiko Avenue, Winnipeg

Key Characteristics & Appeal

This 1981-built, one-storey home in Elmhurst sits on a large, 7,147 sqft lot, offering more outdoor space than most Winnipeg properties. With 1,610 sqft of living space, a finished basement, and an attached garage, it provides practical, single-level living. The home’s recent sale price significantly exceeded its assessed value, indicating strong market appeal and potential perceived value not fully captured in the official assessment.

Its primary appeal lies in its balance of space, location, and move-in readiness. The lot size is a standout feature, ranking in the top 16% city-wide, which is rare for a mature neighbourhood and offers ample room for gardening, play, or expansion. While the home itself is of average age for the area, its living space is comfortably above average, ranking in the top 23% in Winnipeg. It suits buyers looking for a established, quiet neighbourhood with room to breathe, particularly those seeking a bungalow layout or who prioritize a large yard over a brand-new build. It would also appeal to value-conscious buyers who see potential in a solid property on a premium-sized lot, where the land itself represents a substantial portion of the asset.

Frequently Asked Questions

1. Why did the home sell for so much more than its assessed value?
Property assessments are based on mass appraisal models and historical data, while the market price reflects current demand, the home’s specific condition, and buyer competition. The premium paid suggests buyers valued the large lot and the home’s features highly in the current market.

2. Is the finished basement included in the 1,610 sqft living area?
Typically, the listed living area (sqft) refers to above-grade space. The finished basement provides additional living area but is not usually included in that official figure, meaning the total usable space is greater than 1,610 sqft.

3. What does the ranking data for the street and neighbourhood mean?
These rankings compare this property to others on the same street, in Elmhurst, and across Winnipeg. For example, its lot size ranks in the top 16% in the city, meaning it’s larger than 84% of Winnipeg properties. This provides context on how its key features stack up locally.

4. What are the implications of a 45-year-old home?
A home of this age is in the mature phase of its lifecycle. It benefits from established trees and neighbourhood character but requires a diligent inspection. Key systems like the roof, windows, furnace, and plumbing may be original or nearing replacement, which should be factored into planning.

5. Who might this property not suit?
It may not suit those seeking a modern, open-concept layout without renovation work, or buyers who prefer a brand-new, low-maintenance property. The single-storey design and larger lot also mean more interior space on one level and more outdoor upkeep, which could be a consideration for some.