586 Elmhurst Road

Property Overview & Key Characteristics

This 1971-built bungalow sits on a large, mature lot of over 8,250 sqft in Elmhurst, offering space and established charm. Its key appeal lies in a combination of generous outdoor space and practical, single-level living. The home features 1,289 sqft of living space and a finished basement, providing room to grow or host. A split garage adds functional storage or workshop potential.

Its standout characteristic is its land size, which ranks in the top 10% across Winnipeg, a rare find that offers privacy, gardening possibilities, and room for expansion. The home suits first-time buyers or downsizers looking for a manageable layout without sacrificing yard space, as well as value-conscious buyers who see potential in the solid structure and large lot, willing to update the interior over time. It’s a property where the true asset is the land itself, appealing to those with a long-term view.

Frequently Asked Questions

1. How does the age of the home affect maintenance?
Built in 1971, major systems like the roof, plumbing, and electrical may be at or nearing their typical lifespan. A thorough inspection is crucial to budget for potential updates, though the construction era is also known for solid craftsmanship.

2. What does the "finished basement" entail?
The listing confirms it is finished but does not specify the extent, quality, or if it includes legal egress. It’s important to clarify whether it’s a cozy rec room or includes proper bedrooms, and to check for moisture issues common in basements of this age.

3. The lot is large, but how is it oriented and shaped?
A lot of this size is a major advantage, but its usability depends on factors like sun exposure, topography, and shape. Reviewing the lot survey or viewing in person will reveal how much is functional backyard versus frontage or side yard.

4. The assessment value is lower than the asking price. Why?
The municipal assessment is for tax purposes and often lags behind the current market. It can be a starting point, but the sale price is determined by recent comparable sales, condition, and buyer demand for a lot of this size.

5. The community rankings seem mixed. What does this indicate?
The home ranks very high for lot size but lower for assessed value within its own neighborhood. This suggests it may be a more modest home on a premium-sized lot compared to its immediate peers, representing an opportunity for the right buyer who values land over a turn-key interior.