404 Elmhurst Road

Property Overview & Key Characteristics

This 1973-built, one-storey home in Varsity View sits on a large, approximately 7,800 sqft lot, offering a rare sense of space within the city. Its 1,323 sqft of living space includes a finished basement, providing practical room to grow. The home’s core appeal lies in this combination of a generous, established lot and a functional, low-maintenance layout—a increasingly hard-to-find pairing in mature neighbourhoods. Its strong rankings, particularly outperforming 88% of Winnipeg homes for lot size and 69% for assessed value, signal a property with solid fundamentals.

It would suit buyers looking for a grounded, long-term home in a sought-after area, prioritizing land over a modernized interior. It’s an ideal canvas for those who envision gradual updates or an expansion, where the true value is in the underlying asset—the land and location—rather than turn-key finishes. It also appeals to downsizers seeking single-level living without compromising on outdoor space.

Frequently Asked Questions

1. What does the "finished basement" entail?
The listing confirms a finished basement, which adds valuable flexible space. Prospective buyers should verify the finish quality, ceiling height, and whether it includes a proper egress, as finishes in a 1970s home can range from basic rec rooms to more fully developed living areas.

2. How does the 53-year-old building age impact the purchase?
While the home ranks newer than most on its street, a 1973 build means essential systems (roof, wiring, plumbing, windows) are likely at or beyond their typical lifespan. A thorough inspection is crucial, and budgeting for updates should be part of the planning. The age, however, is reflected in the character and established lot you gain.

3. The lot is large, but how is it oriented and shaped?
The nearly 7,800 sqft lot is a major feature. Understanding its orientation (for sun exposure), topography, and any unusual dimensions is key. A south-facing backyard, for instance, would be a significant advantage for gardens and outdoor living.

4. What is the realistic potential for expansion or renovation?
The large lot and one-storey design could allow for a lateral addition or a second-storey expansion, subject to zoning bylaws. This is a core value proposition for buyers willing to invest in customization over time.

5. Why is the assessed value notably higher than many Winnipeg homes?
The assessment reflects the desirable Varsity View location combined with the substantial lot size. It’s a useful benchmark for property taxes and indicates the city’s valuation of the property’s underlying assets, though market value can differ based on condition and current market trends.