281 Elmhurst Road

Property Overview

This 1947-built bungalow in Varsity View offers a classic, low-maintenance lifestyle on a generously sized lot. Its primary appeal lies in the combination of a large, 8,071 sqft property—a rarity in the area—with a modest, 663 sqft single-level layout. The home features a finished basement and a detached garage. While the living space is compact, the property ranks highly for its lot size, placing it in the top 11% of all Winnipeg homes by that metric. This creates a unique value proposition: the land itself offers significant potential, while the existing house provides a functional, no-frills foundation.

It would suit a practical buyer looking for an entry point into a desirable neighbourhood, or an investor/developer attracted by the subdividable lot potential. It’s also a match for those seeking minimal indoor upkeep and who prioritize outdoor space for gardens or expansion over expansive interior square footage. The very low rankings for living area size confirm this is not a home for those needing ample room, but rather for those who see value in the land and location.

Key Questions for Consideration

1. What does the "finished basement" entail? Given the era of construction, it's important to clarify the finish quality, ceiling height, and whether it includes a proper secondary living space or additional bedroom.

2. Is the large lot subdividable? This is a central question for many buyers. The lot size suggests potential, but local zoning bylaws and setback requirements would need to be verified with the city to confirm if a subdivision or significant addition is feasible.

3. How has the 79-year-old structure been maintained? While systems may have been updated, the age of the home warrants a close look at the foundation, roof, plumbing, and electrical to understand upcoming maintenance or capital needs.

4. What is the true value proposition here? The assessed value ranks higher for the lot than the building. Buyers should consider if they are paying primarily for the land with a liveable structure, and if that aligns with their long-term plans—be it renovation, rebuilding, or simply enjoying the large yard.

5. How does the compact living space function day-to-day? With 663 sqft above grade, the layout efficiency is critical. Prospective buyers should thoughtfully assess if the flow and room sizes meet their practical needs for living, storage, and workspaces.