361 Elmhurst Road

Property Overview

This 1920s one-storey home in Varsity View offers a blend of established neighborhood charm and practical living space. Its key appeal lies in its generous 7,297 sqft lot—a rare find in the area that provides significant outdoor space and future potential. The home itself features 757 sqft of living area with a finished basement, presenting a manageable footprint for downsizers or first-time buyers. With a detached garage and no pool, it's a low-maintenance property.

Its strongest suit is the land. The lot size ranks in the top 15% across all of Winnipeg, offering privacy, garden space, or redevelopment possibilities far exceeding typical inner-city properties. However, the 106-year-old structure requires a buyer comfortable with the character and upkeep of a century home. It perfectly suits a buyer prioritizing land value and location over turn-key modern finishes—perhaps someone looking to invest in the lot long-term or willing to renovate gradually. The high city-wide ranking for lot size starkly contrasts with its lower rankings for building age and living area, highlighting a trade-off: you're acquiring a prime piece of land with a modest, older home on it.

Frequently Asked Questions

1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across Winnipeg. For example, being in the "top 15%" for lot size in Winnipeg means 85% of properties have smaller lots. Conversely, rankings in the "top 95%" for living area mean only 5% of comparable homes are smaller, indicating a compact living space.

2. Is the finished basement included in the 757 sqft living area?
Typically, the listed "居住面积" (Living Area) refers to above-grade square footage. The finished basement is an additional space, which adds functional room but may not be counted in the official living area figure used for assessments and rankings.

3. The house is over 100 years old. What should I be concerned about?
While offering charm, key considerations for a 1920 home include the age and condition of major systems like plumbing, electrical, roofing, and the foundation. A thorough inspection is essential to understand any needed updates or latent issues common to houses of this era.

4. Why is the assessed value relatively low compared to the lot size?
The assessment reflects the current property as a whole. The modest size and age of the home likely keep the valuation down, meaning a significant portion of the property's value is tied to the land itself. This can indicate potential for value growth through renovation or redevelopment.

5. What is the neighborhood (Varsity View) like?
Varsity View is a central, established neighborhood near the University of Manitoba. It typically offers a mix of older character homes and newer infill, with mature trees and convenient access to amenities. The high lot-size ranking suggests this property is among the more spacious in this sought-after area.