556 Elmhurst Road

Property Overview: 556 Elmhurst Road, Winnipeg

Key Characteristics & Appeal

This 1962 bi-level home sits on a large, approximately 8,449 sqft lot in the Elmhurst neighborhood. With 1,044 sqft of finished living space, including a developed basement, it offers a practical layout. The property's standout feature is its generous land size, which ranks in the top 10% of all Winnipeg lots, providing significant outdoor space and potential. It includes a detached garage.

The appeal here is grounded in space and value. The lot size is a considerable asset, offering privacy, room for gardening, or future expansion that is hard to find in newer subdivisions. While the home itself is of average size for its area and era, the combined package of a fully developed house on such a large parcel presents a solid value proposition. It suits buyers looking for a established neighborhood character, who prioritize yard space over a brand-new home, and are comfortable with the maintenance and potential updates that come with a home of this age. It's a practical choice for a small family, a couple needing a home office/workshop space, or a value-oriented buyer seeing long-term potential in the land itself.

Frequently Asked Questions

1. What does the ranking data actually tell me?
The rankings show the property's position relative to others. For example, its lot size is in the top 10% city-wide, which is exceptional. However, its build year and living area are more average or below average for the immediate community, indicating older, potentially larger homes surround it.

2. Is the basement included in the 1,044 sqft living area?
Typically, "living area" refers to above-grade square footage. The listing specifies the basement is developed, meaning it has finished living space in addition to the 1,044 sqft main floor, adding functional room.

3. What are the implications of a 1962 build year?
While offering classic construction, systems like plumbing, electrical, and the roof may be at or beyond their typical service life. A thorough inspection is crucial to understand any needed updates or repairs, which is reflected in its "top 95%" (older) ranking for age in the community.

4. Why is the assessed value lower than I might expect?
Municipal assessments for tax purposes often lag behind market values and may not fully capture the premium value of the unusually large lot in today's market. The price is likely set based on current market conditions, not the assessment.

5. What is a "bi-level" layout and its pros/cons?
A bi-level features a short flight of stairs to the main living areas (kitchen, living room) and another short flight down to bedrooms or a family room. It offers clear separation of spaces but involves stairs between common areas. The developed basement here likely creates a multi-level living environment.