366 Elmhurst Road

Property Summary: 366 Elmhurst Road

Section 1: Overview & Appeal

This well-situated Varsity View bungalow offers a classic layout on a notably large, mature lot. Its key characteristic is the generous 11,560 sqft property, which places it in the top tier of lot sizes for the street, neighborhood, and wider Winnipeg. The home itself is a practical 1,184 sqft one-storey design from 1979, featuring a finished basement and a detached garage.

The primary appeal lies in its land value and established location. The lot represents significant potential for gardening, expansion, or simply enjoying ample private outdoor space—a rarity in mature neighborhoods. It suits buyers looking for a solid, single-level living base in a sought-after area, with the vision to either maintain the existing home or, in the long term, consider redevelopment possibilities afforded by the sizable lot. It’s a property where the land is the leading asset, offering a balance of immediate livability and future optionality.

Section 2: Key Questions (FAQs)

1. What is the true significance of the lot size rankings?
The data shows the lot size surpasses 96% of all properties in Winnipeg, meaning it’s exceptionally large. This isn’t just about a big yard; it impacts privacy, light, and long-term property value in a way smaller lots cannot match.

2. Is the home’s age a concern?
Built in 1979, the house is middle-aged for the area. While systems may need updating, its ranking shows it’s newer than many homes on the street. The focus for a buyer will likely be on the condition of major components like roof, windows, and mechanicals.

3. How does the finished basement affect the living space?
The 1,184 sqft is the above-ground living area. The finished basement provides additional functional space (e.g., recreation room, extra storage) but is not typically included in the official square footage calculation, meaning the usable space is greater than the listed figure.

4. Who would a "detached garage" suit?
A detached garage is ideal for those who want a clear separation between vehicle storage/workshop space and the main house. It offers flexibility but means dealing with the elements when going between car and home.

5. The assessment value is lower than the asking price. What does that mean?
Municipal assessments are for tax purposes and often lag behind current market values. The more relevant data point is that this home’s assessment ranks in the top 30% city-wide, confirming its relative value within the market, even before listing.