71 Elmvale Crescent

Property Summary: 71 Elmvale Crescent

Section 1: Overview & Appeal

This property is a classic two-storey home built in 1981, situated on an exceptionally large, quiet lot of over 12,700 square feet in the Southboine area of Winnipeg. Its primary appeal lies in the combination of generous above-ground living space (2,115 sqft) and the significant potential offered by its vast, private yard and unfinished basement. The home ranks highly city-wide for lot size, living area, and assessed value, indicating a solid and desirable footprint.

The house would best suit a buyer looking for a long-term family home with room to grow, both inside and out. It’s ideal for someone with a vision who values space and privacy over immediate turn-key finishes. The unfinished basement and the home’s age present a clear opportunity for customization and adding value according to the new owner's tastes and needs. This isn't just a purchase of a house, but of substantial land in a mature neighbourhood—a commodity that is increasingly rare. It’s a property for a pragmatic buyer who sees the underlying asset: a large piece of land with a functional home that can be shaped over time.

Section 2: Key Questions (FAQs)

1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in its neighbourhood, and across all of Winnipeg. For example, being in the top 3% in Winnipeg for lot size confirms the lot is truly one of the largest in the city, a major feature. The rankings for age show it's newer than many homes in its immediate area but is still a 45-year-old property, so updates should be expected.

2. The basement is unfinished. What should I consider?
This is both a cost and an opportunity. You will need to budget to finish it to your standards, but you also have the freedom to design the layout exactly as you wish—whether as a rec room, additional bedrooms, or a separate suite—without needing to undo previous work.

3. The lot is huge. What are the implications?
Beyond privacy and space for play or gardens, a lot of this size (nearly a third of an acre) means higher maintenance in terms of lawn care, landscaping, and snow clearing. It also offers future potential for additions like a large garage, workshop, or even subdivision, subject to city bylaws.

4. How does the 1981 build year affect the home?
Homes from this era often have good room sizes and structural integrity but will likely require updates to key systems like windows, roof, HVAC, and electrical to modern efficiency standards. A thorough inspection is essential to prioritize any major replacements.

5. The assessed value is $612,000. Is that the sale price?
No. The assessed value is for municipal tax purposes. The sale price is determined by the current market. However, the fact that this assessment ranks in the top 6% city-wide strongly suggests the property is considered a high-value asset by the city assessor, which is a positive indicator of its underlying worth.