62 Elmvale Crescent

Property Overview

This well-established bungalow in Southboine offers a practical and comfortable living space on a generous, mature lot. Its key appeal lies in its solid, single-level layout with a finished basement, providing flexible space for a growing family or those seeking single-floor convenience. The nearly 6,100 sqft lot is a significant asset, offering ample outdoor space for gardening, play, or future expansion in a quiet crescent setting.

The home suits first-time buyers or downsizers looking for a manageable, updated property without the maintenance of an older character home. It also appeals to value-focused buyers who prioritize lot size and functional space over brand-new construction. A thoughtful perspective is its competitive ranking in lot size and assessed value city-wide, suggesting a strong fundamental value proposition relative to the broader Winnipeg market, despite being a more modest home within its immediate neighborhood.

Key Details & FAQs

Key Characteristics:

• Layout: A classic 1978 one-storey bungalow (1,381 sqft) with a finished basement.
• Lot: A standout feature at 6,066 sqft, offering above-average outdoor space.
• Condition: The finished basement adds valuable living space, indicating previous updates.
• Parking: Includes an attached garage.
• Value Position: The home's assessed value ranks notably higher city-wide (top 23%) than its size does within its own community, highlighting its lot and condition as key value drivers.

FAQs:

1. What is the neighborhood like?
The home is located on a quiet crescent in Southboine. Its rankings show it is a more modest-sized property compared to many in its immediate community, suggesting a neighborhood of varied home sizes and values.

2. Is the basement a legal suite?
The details state the basement is finished, but there is no indication it is a separate, legal rental suite. Buyers should verify its configuration and compliance with local regulations if that is a priority.

3. How does the property compare in value?
With an assessed value of $469,000, it ranks higher than 77% of Winnipeg homes, indicating strong assessed value for the city. However, it's assessed lower than 68% of homes in its own community, which may reflect its more standard size compared to larger homes in the area.

4. What might the rankings mean for a buyer?
The rankings suggest you are purchasing a home with a very competitive lot size and assessed value for Winnipeg overall. Within the local context, it offers a more affordable entry point into the community, with the trade-off being a smaller living space than many neighbors.

5. What are the main considerations for maintenance?
As a home built in 1978, a thorough inspection of major aging components is essential. This includes the roof, windows, heating system, and foundation. The mature lot is a bonus but may also require upkeep.