Property Overview: 161 Riverbend Crescent, Bruce Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1948, sits on a mature, 5,370 sqft lot in the Bruce Park neighbourhood. Its key feature is a renovated basement, adding valuable finished space to the 1,214 sqft living area. The home presents a practical, grounded opportunity. Its appeal lies in being a solid, post-war character home in an established area, with the major work of a basement renovation already completed. The lot size is notably smaller than others directly on Riverbend Crescent, but is typical for the broader Bruce Park area, offering manageable outdoor maintenance.
This property would suit a first-time buyer or a downsizer looking for a home with immediate livability and character, without a large property to upkeep. It’s also a candidate for a value-conscious buyer who appreciates that the assessed value is below average for the street and city, potentially indicating room for equity growth as further updates are made. The lack of a garage is a trade-off for the lot size and location, suggesting a buyer comfortable with street parking or adding a structure later.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated, but specifics on finish quality, ceiling height, permits, and moisture control should be verified through a viewing and inspection.
2. How does the smaller lot on this street impact value?
While the lot is below average for Riverbend Crescent itself, it is average for the Bruce Park neighbourhood. This could mean a relative value price point on the street, but a typical outdoor space for the community.
3. The home sold in 2022 for $340k. What does that history suggest?
The 2022 sale price was around average for Winnipeg at the time. This recent transaction provides a clear, modern price benchmark, indicating stable value in the current market cycle.
4. Is the below-average assessed value a concern?
Not necessarily. A lower assessment relative to nearby homes can sometimes point to an opportunity, especially if updates (like the basement renovation) aren't fully reflected. It's important to compare the assessment to recent sale prices of similar homes.
5. What is the Bruce Park neighbourhood like?
Bruce Park is a long-established, central Winnipeg neighbourhood. The presence of many homes from the 1940s-1960s suggests a stable, mature community with older tree canopies and varied architectural styles. Prospective buyers should explore the area to gauge proximity to amenities, traffic patterns, and overall streetscape.