379 Elmhurst Road

Property Overview: 379 Elmhurst Road

This 1981-built, one-and-a-half storey home in Varsity View offers a compelling blend of space, location, and established value. With a generous 2,484 sqft of living space on a large 7,327 sqft lot, it stands out for its above-average roominess in a sought-after neighborhood. The home features a finished basement and an attached garage. Its key appeal lies in its proven stability and mature setting, offering a ready-to-occupy family home without the wait or uncertainties of a new development. The data suggests a property that has been well-maintained and has appreciated steadily.

Key Characteristics & Ideal Buyer

The home’s primary strengths are its significant interior space—ranking in the top 3% for size across Winnipeg—and its desirable Varsity View location. The appeal is grounded in practicality: it’s a move-in-ready property with a finished basement for extra living or recreational space, all on a sizable lot that provides room for outdoor activities or gardening. Its consistent value growth, from a 2017 sale at $465,000 to a current assessment of $600,000, indicates a solid and stable investment in a mature area.

This property would best suit a family or professional couple looking for an established home with ample space, prioritizing neighborhood character over brand-new construction. It’s ideal for buyers who appreciate a home with a history and a landscape that has matured over 45 years, offering immediate privacy and a settled feel. It also appeals to the value-conscious buyer who sees merit in a home that has already demonstrated strong, steady appreciation in a competitive market.

Frequently Asked Questions

1. What is the significance of the "one-and-a-half storey" design?
This typically means the home has a main floor with full-height ceilings and a second floor under a sloped roof, often featuring cozy bedrooms with dormer windows. It’s a classic architectural style that can offer efficient use of space and a distinctive character compared to a standard two-storey.

2. The home is 45 years old. What should I be mindful of?
While the finished basement and recent value history are positives, a home of this age will likely have original or older major systems (like roof, windows, plumbing, or electrical). A thorough inspection is crucial to understand the condition and potential future maintenance or upgrade schedules.

3. How does the lot size compare, and what are the advantages?
At over 7,300 sqft, the lot is significantly larger than many in urban neighborhoods. This provides excellent outdoor space for children, pets, or gardening, and offers more privacy and distance from neighbors than newer, denser subdivisions.

4. The assessment value is $600,000. Does this predict the selling price?
Not directly. The assessed value is for municipal tax purposes. While it’s a useful benchmark indicating the home’s high percentile ranking (top 7% in Winnipeg), the final sale price is determined by the current market, condition, and buyer demand.

5. The neighborhood rankings show strong performance. What does this mean for me?
The data indicates this home has historically outperformed most comparable properties in its immediate area, city-wide, and for its age. This suggests it’s in a desirable micro-location within Varsity View and has characteristics (like its large size) that have consistently been valued by the market, which is a positive indicator for long-term value retention.