58 Elmvale Crescent

Property Overview & Key Characteristics

This two-storey home in Southboine offers a classic layout with nearly 2,000 square feet of living space on a generous 6,000 sqft lot. Its key appeal lies in its established, mature neighbourhood setting and its above-average size relative to most Winnipeg homes. The property features a finished basement and an attached garage, providing practical family living space.

Its appeal is grounded in value and space. While the home is nearly 50 years old, its living area ranks within the top 10% of all Winnipeg homes, meaning you get significantly more interior room than most properties on the market. The lot size is also substantial, offering outdoor potential. It would suit a buyer looking for a spacious, no-frills family home in a quiet crescent, who values square footage and a large yard over a newer build, and is prepared for the maintenance or updates that come with a house of this vintage. A thoughtful perspective is that its high ranking for space but average-to-lower rankings for neighbourhood value and newness suggests it's a "diamond in the rough" within its immediate area—a larger property that may have room for value-adding improvements.

Frequently Asked Questions

1. What do the ranking percentages actually mean?
They show how this property compares to others. For example, its living area surpasses 90% of Winnipeg homes, meaning it's larger than most. Conversely, being newer than only 39% of homes citywide confirms its status as an established property.

2. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.

3. What are the typical property taxes for this assessment value?
With a City-assessed value of $498,000, property taxes would be approximately $3,500 to $4,000 annually, depending on the final mill rate. This is a key consideration for the ongoing carrying cost.

4. Why is the community ranking for value lower than the citywide ranking?
The home ranks higher for value across Winnipeg (top 18%) than within its own community (top 55%). This often indicates the immediate neighbourhood has higher-value properties, so while this home offers good value city-wide, it's more average-priced within its own desirable area.

5. What are the implications of the 1978 build year?
Homes from this era may have original components like windows, roofing, or major systems (furnace, electrical) nearing the end of their service life. A thorough inspection is crucial to budget for potential updates, though the structure itself is likely well-built.