Property Overview & Appeal

This 1970 one-storey home in Elmhurst sits on a large, 7,198 sqft lot, offering a notable amount of outdoor space that is increasingly rare in mature neighbourhoods. Its key characteristics include a fully finished basement, a split garage, and a practical 936 sqft layout. The appeal here is grounded in space and value: the property ranks in the top 15% of Winnipeg for lot size, providing significant potential for gardening, expansion, or simply enjoying a generous yard. With an assessed value of $361,000, it presents a more accessible entry point into the market.

This home would suit first-time buyers or downsizers seeking a manageable single-level layout without sacrificing outdoor privacy. It’s also a practical fit for value-oriented buyers who see potential in the well-sized lot and are comfortable with a home that offers functional living space rather than modern finishes. A less obvious perspective is its appeal to those prioritizing long-term property fundamentals—a large lot in an established area—over immediate interior square footage, viewing the land itself as the primary asset.

Frequently Asked Questions

1. What does the lot size ranking actually mean?
The property’s lot is larger than 85% of all residential properties in Winnipeg, placing it in the top 15%. This indicates an unusually large yard for the city, which is a key feature of this home.

2. Is the house in need of major updates?
Built in 1970, the home is older than most in its immediate area (ranking in the bottom 15% on its street for newness). Buyers should budget for potential updates to mechanical systems, windows, or interior finishes common to houses of this era.

3. How does the finished basement affect living space?
The finished basement adds usable living area beyond the main floor’s 936 sqft. This is valuable for creating separate spaces for recreation, home offices, or guest areas, effectively increasing the home’s functionality.

4. Who might the "split garage" suit?
A split garage (typically a two-car garage divided by a wall) offers flexibility. It can separate vehicle storage from workshop or storage space, or be ideal for a household with a standard car and a smaller vehicle or significant storage needs.

5. Why is the assessed value different from the sale price?
The municipal assessment of $361,000 is for tax purposes and reflects a mass appraisal based on past market data. The final sale price is determined by current market conditions, buyer demand, and the property’s specific presentation.