532 Elmhurst Road

Property Summary

Key Characteristics & Appeal

This is a classic one-and-a-half story home built in 1947, situated on an exceptionally large, mature lot of over 12,000 square feet in the Elmhurst neighborhood. Its primary appeal lies in the significant space and potential it offers. The nearly 1,800 sqft of living space is well above average for the area, and the unfinished basement presents a clear opportunity for customization. The property's standout feature is its land: the lot size ranks in the top 4% of all Winnipeg, offering rare privacy, room for gardens, play areas, or future expansions.

The home suits two main types of buyers. First, it's ideal for a hands-on buyer or family looking for a character home with ample outdoor space and the vision to update the interior and finish the basement to their own tastes over time. Second, it appeals to an investor or builder who recognizes the long-term value of such a large parcel of land in a well-established community. While the house itself requires modernization, its foundational metrics—lot size and living area—are highly competitive, suggesting a solid "bones-up" project rather than a superficial update.

Frequently Asked Questions

1. What does the "one-and-a-half storey" design typically mean?
This style usually features a main floor with principal rooms and a second floor with sloped ceilings (following the roof line) creating cozy bedrooms or additional living space, characteristic of many mid-century homes.

2. How significant is the lot size, really?
At over 12,000 sqft, it is a major asset. It ranks better than 96% of properties in Winnipeg, meaning this much private, usable land is very uncommon and provides flexibility that most standard lots do not.

3. The home was built in 1947. What should I be prepared for?
While systems may have been updated, you should budget for potential age-related maintenance. The unfinished basement is a blank slate but will require proper insulation, moisture control, and finishing work. The high rankings for living space and lot size, however, indicate the core structure and property are substantial.

4. The assessment value seems moderate compared to the high rankings for size. Why?
Municipal assessments often reflect a mass-appraisal formula and may not fully capture the premium value of an extremely large lot or the current market potential. The high percentile rankings for lot and living area suggest the property has underlying value that a market sale could realize.

5. Who is this neighborhood best for?
Elmhurst is a mature, established community. It suits those seeking a quiet, residential setting with larger lots, good schools, and a sense of space while still being within Winnipeg. It's less suited for those wanting a brand-new, turnkey home or a dense, ultra-walkable urban environment.