Property Overview: 535 Elmhurst Road, Winnipeg

Key Characteristics & Appeal

This well-established two-storey home, built in 1992, sits on a notably large, mature lot of over 9,500 square feet in the Elmhurst neighbourhood. With 1,812 square feet of living space and a finished basement, it offers practical family-sized accommodation. The data reveals its standout appeal: it consistently ranks in the top tier of properties for its size, lot dimensions, and assessed value, not just on its street but across the wider community and Winnipeg itself. For instance, its lot size surpasses 93% of all homes in the city, offering exceptional outdoor space potential.

Its primary draw is a combination of established neighbourhood character and quantifiable above-average attributes for the area. It suits buyers looking for a solid, move-in-ready family home in a mature setting, who prioritize generous outdoor space over features like a garage or pool. A thoughtful perspective is that while the home is 34 years old, it ranks as newer than 90% of houses on its street, suggesting it’s among the more contemporary homes in an older, well-settled area. The 2021 sale at $500,000, closely aligned with the current $505,000 assessment, indicates stable and transparent value in recent years.

Frequently Asked Questions

1. How does the lack of a garage impact daily life and property value?
While the absence of a garage requires alternative parking and storage solutions, the property’s very high rankings in other key metrics (like lot size and living space) show its overall value proposition remains strong for the market. Buyers would need to weigh the premium outdoor space against the convenience of covered parking.

2. What does the "finished basement" entail?
The listing confirms the basement is finished, adding to the home’s functional living area. Prospective buyers should inquire during a viewing about the finish quality, ceiling height, and whether it includes a separate entrance or additional bedrooms.

3. The lot is large, but what is its condition and potential?
A lot of this size (over 1/5 of an acre) is a significant asset. Buyers may want to assess the current landscaping, garden conditions, and potential for future uses like expanding the garden, adding a play structure, or even a future detached garage, subject to local bylaws.

4. The home ranks very well for its "newness" on the street. What does this imply?
This indicates that 535 Elmhurst is likely one of the more recently built homes on a street with older housing stock. This can be an advantage, potentially meaning newer building materials, wiring, or plumbing compared to immediate neighbours, but a thorough inspection is still recommended.

5. Given the 2021 sale price, how has the property’s value changed?
The property sold for $500,000 in August 2021. The current assessed value of $505,000 suggests a stable market valuation in the intervening period. This history provides a clear and recent benchmark for price discussions.