55 Woodchester Bay

Property Summary: 55 Woodchester Bay

Key Characteristics & Appeal

This 1983-built, one-storey home in Elmhurst offers a practical, single-level layout with 1,130 sqft of living space on a generous 5,046 sqft lot. Its key appeal lies in a balance of established comfort and relative value within its setting. The home features a finished basement and an attached garage, providing essential space and functionality.

Its standout characteristic is its age ranking: it is notably newer than most homes on its street and in Winnipeg overall, suggesting potentially fewer major upkeep concerns compared to older peers. The property suits first-time buyers or downsizers seeking a manageable, low-maintenance home without a condo fee. It also appeals to value-oriented buyers who prioritize a larger lot for gardening or outdoor space, seeing the land itself as a long-term asset. The rankings indicate it’s a competitively priced option within the broader market, offering a solid entry into a mature neighborhood.

Frequently Asked Questions

1. What does the "newer than 97% of homes on its street" ranking mean?
It means this 1983 home is among the newest three percent of houses on Woodchester Bay. In an established area, this can suggest advantages like more modern construction materials or systems compared to much older neighbors.

2. Is the finished basement included in the 1,130 sqft living area?
Typically, the listed "living area" refers to above-ground, finished space. The finished basement is an additional asset, providing extra usable rooms or recreational space not reflected in the main square footage figure.

3. How should I interpret the mixed rankings for size and value?
The home ranks higher for its newness and assessed value than for its sheer size. This profile often fits a "value-per-square-foot" proposition—you’re buying into a newer structure and lot in a good location, rather than maximizing interior volume.

4. What are the implications of a home built in 1983?
Homes from this era often incorporate modern wiring and insulation standards. However, key components like the roof, windows, and major mechanical systems (furnace, water heater) are likely at or beyond their typical lifespans and should be carefully inspected.

5. Who determines the "assessment value" and how does it relate to the listing price?
The assessment value ($431,000) is set by municipal tax authorities for taxation purposes. It is a historical estimate and not a market appraisal. The listing price is set by the seller based on current market conditions, and the two figures can differ significantly.