Property Overview: 665 Elmhurst Road

This 1972-built, one-storey home sits on a generous 6,899 sqft lot in Winnipeg's Elmhurst neighborhood. With 945 sqft of living space, a finished basement, and a detached garage, it presents a practical, grounded opportunity. Its recent sale in November 2024 for $370,000 provides clear, current market context against its $350,000 assessed value.

Section 1: Key Characteristics & Appeal

• The Fundamentals: The property's primary strengths are its larger-than-average lot and the flexibility offered by a finished basement. As a one-storey layout, it provides accessible living. The recent sale price offers a solid benchmark for value.
• Where the Appeal Lies: The appeal is in its modesty and potential. It outperforms over 80% of Winnipeg homes in lot size, offering valuable outdoor space. While the home itself is older and the interior space is compact, it represents an entry point into a mature neighborhood. The finished basement immediately adds functional space for recreation, a home office, or guests.
• Ideal Buyer Profile: This property would suit first-time buyers or practical downsizers looking for a manageable, single-level home with a good yard. It’s for a buyer who values space over a modern finish, sees the value in a large lot, and is comfortable with a home that may require personal updates over time. An investor might also consider it for its straightforward layout and established neighborhood.

Section 2: Frequently Asked Questions

1. How does the recent sale price affect the property's value?
The November 2024 sale at $370,000 establishes a very recent, concrete market value that is typically more reflective of current conditions than the government assessment ($350,000). It provides a strong foundation for understanding its worth.

2. Is the living space too small?
At 945 sqft above grade, the living area is compact. However, the finished basement effectively expands the usable space. Buyers should consider their needs for daily living on the main floor versus the utility of the basement for ancillary functions.

3. What do the neighborhood rankings indicate?
The rankings show a mixed picture. The home's lot size is a major asset within the community, but the structure itself is older and smaller than many in the area. This suggests a neighborhood of varied property types, where this home is valued more for its land than its structure.

4. What are the implications of a detached garage?
A detached garage offers flexibility for a workshop or project space separate from the house. The trade-off is convenience, requiring you to go outside in all weather conditions, which is a consideration during Winnipeg winters.

5. What is less obvious about this property's potential?
The significant lot size is a standout feature not always found with homes at this price point. It offers long-term potential for gardening, expansion, or simply more private outdoor living. Additionally, as a one-storey home in an older neighborhood, it may appeal to those planning for long-term, accessible living.