Property Summary: 3555 Eldridge Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This 1974-built, one-storey home in Elmhurst offers a classic and practical living arrangement on a notably large, 10,558 sqft lot. Its key appeal lies in the significant potential afforded by its generous land size, which ranks within the top 5% of all properties in Winnipeg. The 1,357 sqft living space is comfortable and ranks above average for its street. The home features an unfinished basement and an attached garage, presenting a solid foundation for customization.

The property is ideally suited for two primary types of buyers. First, it’s a strong candidate for long-term homeowners or families who value space and the opportunity to shape a property over time, whether through finishing the basement, landscaping the expansive yard, or future renovations. Second, its lot size and established neighbourhood location make it a compelling prospect for investors or builders looking for properties with redevelopment potential. A thoughtful perspective is that while the home itself is of average size and age for the area, its standout lot offers a rare commodity—space—which is often the most valuable and least changeable asset in real estate.

Section 2: Frequently Asked Questions

1. What is the true significance of the lot size rankings?
The rankings indicate the property’s lot is larger than 95% of all homes in Winnipeg, placing it in the top 5%. This is its most competitive feature, offering exceptional outdoor space, privacy, and future possibilities that are hard to find in the city.

2. The home was built in 1974. What should I consider?
While the structure is over 50 years old, its systems (roof, wiring, plumbing) may have been updated. The unfinished basement allows for modern insulation and moisture control standards to be implemented during development. An inspection is key to understanding the condition and any needed updates.

3. How does the 2017 sale price compare to the current assessment?
The home sold for $349,000 in 2017 and is now assessed at $403,000. This increase reflects market trends over seven years. The assessment provides a baseline for municipal taxes, but the final market price is determined by current buyer demand.

4. Who is responsible for maintaining the large yard?
The homeowner is fully responsible for the maintenance of the entire 10,558 sqft property. This includes lawn care, gardening, and snow removal, which requires more time, equipment, or budgeting for services compared to a standard lot.

5. What does the "unfinished basement" entail?
It means the basement space is in a rough state, with exposed walls, floors, and utilities. It is usable for storage or mechanicals but requires a significant investment to be finished as living space. This offers the next owner a blank slate to design the layout to their specific needs.