531 Elmhurst Road

Property Overview & Key Characteristics

This 1957-built, single-storey home on Elmhurst Road is defined by its exceptionally large, 12,096 sqft lot, which places it in the top tier of properties in Winnipeg for land size. The home itself offers 1,200 sqft of living space with a finished basement. Its primary appeal lies in the rare opportunity for substantial outdoor space, gardens, or future expansion within the city, a feature increasingly difficult to find. The property suits buyers prioritizing land over a newer build, including those seeking a peaceful, established setting with room to grow, families wanting ample play space, or long-term visionaries who see potential in the existing structure and the expansive grounds.

Frequently Asked Questions

1. How does the age of the home impact its condition and costs?
Built in 1957, the home is older than most in its immediate community. Prospective buyers should budget for a thorough inspection to understand the state of major systems (like plumbing, electrical, and the roof) typical of its era, and factor in potential updates alongside the purchase price.

2. What are the implications of having no garage?
The lack of a garage means all vehicle parking will be on the driveway or street. It also reduces enclosed storage space. However, the vast lot size offers the possibility of adding a garage or workshop in the future, subject to local zoning and permit approvals.

3. The lot is large, but how is the home's size relative to the neighborhood?
While the lot is among the largest, the 1,200 sqft living area is moderately sized compared to neighboring homes. This creates a unique balance: you own a premium-sized property, but the home's footprint leaves significant room for landscaping, decks, or additions.

4. The assessed value is lower than many area homes. Is this a concern?
The municipal assessment is for taxation purposes and reflects factors like age, size, and recent sales. It doesn't necessarily dictate market value. A lower assessment can mean relatively lower property taxes, which is a positive for annual carrying costs.

5. What is the neighborhood character, given the home's age ranking?
The data shows the home is older than 97% of properties in its community, indicating it's in a mature, well-established area that has seen significant renewal and newer construction over time. This offers a stable, leafy environment but suggests surrounding homes may be larger or more recently updated.