Property Overview: 291 Risbey Crescent, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a practical and solid opportunity. Built in 1974, it sits on a generous 6,682 sqft lot that ranks above average for both the neighbourhood and the city, offering valuable outdoor space. The home itself features a renovated basement and an attached garage, with a living area of 1,104 sqft that is typical for the immediate area. Its recent sale in July 2024 for $360k represents a significant and steady increase in value over the last five years, indicating a strong and appreciating market position within a stable, established community.
The appeal here is grounded in space and stability. The lot size is a standout feature, providing room for gardening, play, or expansion in a neighbourhood where such space is becoming less common. The renovated basement adds functional living area without the need for immediate work. This property would suit first-time buyers looking for a move-in-ready home with room to grow, or downsizers seeking single-level living without sacrificing yard space. It’s a home for buyers who value a quiet, established crescent and prefer a property that tracks reliably with—or slightly outperforms—neighbourhood averages rather than one that is an outlier.
Frequently Asked Questions
1. How does the property’s value compare to the area?
The July 2024 sale price of $360k is above the average for both Risbey Crescent and the wider Buchanan neighbourhood, according to provided data. This suggests the home is competitively positioned in a desirable pocket of the area.
2. What is the significance of the lot size?
At 6,682 sqft, the lot is larger than approximately 80% of residential lots citywide. This is a key asset, offering more privacy and potential than many newer properties, and is a primary contributor to the property’s value.
3. Has the home’s value increased over time?
Yes, the data shows clear appreciation. It sold for $271,500 in 2019, $318,000 in 2020, and $360,000 in 2024. This consistent growth trajectory points to a healthy investment in a stable market.
4. What does "renovated basement" typically mean for a 1974 home?
While specifics would require a viewing or inspection, this generally indicates modernized finishes and likely compliance with current safety standards (like electrical), adding immediate livable space without the project cost and hassle for a buyer.
5. Is the living space smaller than average?
At 1,104 sqft, the above-ground living area is around the neighbourhood average. The renovated basement effectively increases the total usable space, making the home feel more spacious than the main floor square footage alone might suggest.