Property Overview: 10 Crowson Bay, Crescent Park, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1954 on a generous, approximately 6,000 sqft lot in Winnipeg's Crescent Park neighborhood. Its key features include a renovated basement, which adds valuable finished space to the 1,100 sqft main living area. The home presents a notable value proposition, with an assessed value significantly below the averages for both its immediate street and the broader neighborhood. This suggests potential for equity growth, especially for a buyer willing to invest in updates over time.
The appeal lies in its balance of a sizable lot—offering room for gardens, play, or expansion—within a mature, established community. It suits first-time buyers or practical downsizers seeking an affordable entry into a stable area, where the land itself represents a substantial portion of the asset. It’s also a sensible fit for investors or hands-on owners who see value in a home that is livable now but has clear, measurable upside through modernization, making it a project with defined parameters rather than a total overhaul.
Section 2: Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily. It primarily reflects the home’s age and modest size compared to peers. It can be an advantage, indicating a lower property tax burden and highlighting the potential to increase value through improvements.
2. How does the lot size compare?
At just under 6,000 sqft, the lot is below average for Crowson Bay but is still a very generous size city-wide. It offers ample outdoor space, which is a premium in mature neighborhoods.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify finishes or layout. This is a key detail to clarify with the selling agent to understand the home's true living space and condition.
4. The home last sold in 2019. What does that mean?
The 2019 sale price was $29,900, well below the current assessed value of $37,600. This recent turnover suggests the property may have been part of an estate or investment sale at that time and has since seen some improvement.
5. What are the obvious projects for a new owner?
Given its 1954 origins, buyers should budget for updates to major aging systems (like plumbing or electrical) and energy efficiency improvements (windows, insulation). The main living area is compact, so the renovated basement and large lot are crucial assets for space.