55 Elmvale Crescent

Property Overview

55 Elmvale Crescent is a spacious, well-established two-storey home in Winnipeg's Southboine area. Built in 1979, it sits on a large, approximately 7,000 sqft lot and offers over 2,200 sqft of finished living space, including a developed basement. The home features an attached garage and ranks highly within Winnipeg for its above-average living area and assessed value.

Section 1: Key Characteristics & Appeal

This home’s primary appeal lies in its generous scale and established neighbourhood setting. The nearly 2,213 sqft of living space places it within the top 6% of homes in Winnipeg for size, offering ample room for a growing family or those who value spacious interiors. The large lot provides private outdoor space with potential for gardening, play, or expansion. Its fully developed basement adds significant functional space, ideal for a recreation room, home office, or guest suite.

The property suits buyers looking for a move-in ready, sizeable home in a mature community without the premium of a brand-new build. It’s particularly well-matched for families seeking room to grow, or for multi-generational living arrangements where the finished basement can offer flexibility. The strong rankings in assessed value and living area suggest a property that has been maintained and stands above average in its market segment. A thoughtful perspective is that homes from this era often feature larger room proportions and more substantial lot sizes than many newer constructions, offering a sense of space that can be hard to replicate.

Section 2: Frequently Asked Questions

1. How does the 1979 build year affect the home?
While the home is nearly 50 years old, its rankings show it is newer than 62% of Winnipeg homes. Buyers should expect the potential for updates (like windows, roof, or mechanical systems) common for the age, but also benefit from proven neighbourhood maturity and established landscaping.

2. What do the ranking percentages actually mean?
They are competitive benchmarks. For example, being in the top 6% for living area in Winnipeg means the home is significantly larger than most. Conversely, being in the top 74% within its own community for lot size (meaning it surpasses only 26% of neighbours) indicates that while the lot is large city-wide, it is more average within this specific, desirable neighbourhood.

3. Is the 2017 sale price relevant today?
The 2017 sale of $515,000 provides historical context, but the current assessed value of $554,000 is the city's estimate of its market value for taxation purposes. The actual market price will be determined by current conditions, recent upgrades, and buyer demand.

4. What is the significance of the high assessment value ranking?
Ranking in the top 11% in Winnipeg for assessed value suggests the city views this as a higher-value property overall, which typically correlates with desirable location, size, condition, and amenities. It’s a strong indicator of the home’s standing in the broader market.

5. What type of neighbourhood is Southboine?
As part of the larger Fort Richmond area, Southboine is a mature, primarily residential community near the University of Manitoba. It offers a mix of family homes, quiet streets, and convenient access to parks, schools, and major routes, appealing to academics, professionals, and families.