5005 Eldridge Avenue

Property Summary: 5005 Eldridge Avenue, Winnipeg

Key Characteristics & Appeal

This is a well-situated, single-storey home built in 1964, offering a unique blend of generous outdoor space and functional living. Its primary appeal lies in its exceptionally large, half-acre lot (23,839 sqft), which places it in the top 1% of properties in Winnipeg for land size. This provides immense privacy and potential for gardening, expansion, or recreation. The home itself features a finished basement and a split garage, adding practical living and storage space.

The property suits two distinct types of buyers. First, it's ideal for those seeking a long-term family home with room to grow, where the land itself is a primary asset. Second, it appeals to value-conscious buyers or investors who see the underlying value in the lot size and recognize the potential for future renovation or development, given the home's original 1964 construction. A less obvious perspective is its strong "relative value" position; while the house is modest in size and era, its assessment value ranks higher than two-thirds of Winnipeg homes, suggesting the official valuation heavily reflects the premium lot.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in its neighbourhood (Eric Coy), and across all of Winnipeg. For example, its land size ranks in the top 1% city-wide, while its building age is older than most in its immediate area.

2. Is the house in original condition?
Given its 1964 build date and that rankings show it's older than most nearby homes, it is very likely the main floor retains its original layout and may require updates. The finished basement adds modern living space.

3. What can I do with such a large lot?
Beyond a spacious yard, a lot of this size (over half an acre) in the city may offer future potential for additions like a workshop, extensive landscaping, or even subdivision, subject to all city zoning and bylaws.

4. How does the split garage differ from a double garage?
A split garage typically refers to two separate single garage doors, often side-by-side but with a dividing wall. It offers the same two-vehicle capacity as a double garage but with more separation between bays.

5. Why is the assessed value higher than many Winnipeg homes if the house is older and modest in size?
The assessment reflects the total property value, which is heavily influenced by the land. The exceptionally large lot size is a significant and rare asset, driving a higher overall valuation despite the home's age.