51 Woodview Bay

Property Overview: 51 Woodview Bay, Elmhurst, Winnipeg

This 1983-built four-level split home offers a practical and spacious layout on a large, 5,048 sqft lot in the established Elmhurst neighbourhood. With 1,578 sqft of living space, an unfinished basement, and an attached garage, it presents a classic Winnipeg family home profile. Its appeal lies in its generous lot size—ranking in the top 17% on its street—and its above-average living area compared to most of the city. The home’s recent sale history shows steady appreciation, and its "younger than most" build year for the area is a notable advantage. This property is well-suited for buyers looking for a solid, no-frills home with room to grow and personalize, particularly those who value outdoor space and the stability of a mature community over brand-new construction. It’s a practical choice for a family or long-term owner who sees potential in the unfinished spaces and appreciates a home that has held its value effectively.

Key Questions for Consideration

1. What is the true value proposition here? The 2022 sale price was significantly higher than the current assessed value. Buyers should investigate recent comparable sales and market trends to understand the current fair market value, recognizing that assessment values are not always aligned with the present market.

2. What are the implications of the "four-level split" design? This layout offers good separation of living spaces but involves multiple staircases. It’s ideal for separating living, sleeping, and recreational areas, but may not suit those seeking single-level living or who have mobility concerns.

3. How does the unfinished basement factor into the home's potential? The basement represents significant potential for future expansion (e.g., a family room, home office, or additional bedroom) but requires a budget and vision to complete. It's a key factor for buyers weighing immediate move-in readiness against long-term customization.

4. The lot is large, but what is its condition and orientation? A 5,048 sqft lot is a major asset. A prospective buyer should verify the yard's condition, sun exposure, and any mature trees or landscaping that could be a benefit or a maintenance consideration.

5. Given its age, what major systems or components might need attention? As a home from the early 1980s, the roof, windows, furnace, and major appliances are likely at or beyond their typical lifespans. A thorough home inspection is essential to plan for potential updates or repairs.