555 Elmhurst Road

Property Overview: 555 Elmhurst Road

This two-storey home, built in 2024, is a modern residence in Winnipeg's Elmhurst area. Its primary appeal lies in being a like-new property that combines a substantial footprint with a large, private lot. With over 3,100 sqft of living space and a 9,499 sqft lot, it offers significant room for a growing family. The home ranks in the top tier of the local market for its size, newness, and assessed value, suggesting a premium, move-in-ready offering. It features an attached garage and a full, unfinished basement, providing space for future customization.

The property is best suited for buyers seeking a modern home without the wait of new construction, who value spacious interiors and a large yard in a well-established neighbourhood. It would also appeal to those looking for a home with strong statistical standing in its area, as it ranks highly against comparable properties in nearly every metric. A less obvious perspective is the value of the blank-canvas basement; for a handy buyer or one with a vision, this represents a direct opportunity to add personalized value without the major work of an older home.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings show how this property compares to others in its immediate street, broader community, and all of Winnipeg. For example, being newer than 100% of homes in its community means it is the newest house in that comparison group, highlighting its modern condition.

2. Is the basement included in the 3,106 sqft living area?
No, the living area typically refers to finished, above-grade space. The home has a separate, full basement that is currently unfinished, which is not counted in that square footage figure.

3. Why is there such a difference between the 2017 sale price and the current assessed value?
The 2017 sale likely corresponded to the purchase of the vacant land or a previous structure. The 2024 build date indicates a brand-new house was constructed on the lot, which explains the significant increase in value reflected in the current assessment.

4. What are the advantages of a large, unfinished basement?
It offers flexible storage space and the potential for future expansion (like a rec room, home gym, or additional bedrooms) according to the new owner's needs and budget, without the cost or constraints of undoing previous renovations.

5. Does the high ranking in "value" mean it's a good deal?
The high ranking (top 3% in Winnipeg for assessed value) indicates it is assessed as more valuable than most properties, which typically reflects its size, newness, and features. It suggests a premium property, and whether it represents a "deal" depends on the listing price relative to that assessment and the current market.