110 Riley Crescent

Property Overview: 110 Riley Crescent, Crescent Park, Winnipeg

Key Characteristics & Appeal

This is a well-situated, classic one-storey home on a generous lot in the established Crescent Park neighbourhood. Built in 1953, the property features a renovated basement and a detached garage. Its primary appeal lies in its land: at over 7,000 square feet, the lot size is notably above average for both the immediate street and the city as a whole, offering significant outdoor space and potential in a mature setting.

The home itself, with 1,100 sqft of living space, is modest in size and typical for its era and area. Recent sale history shows a marked increase in value over the past few years, suggesting the property is in a rising market or has seen improvements. It would best suit a buyer looking for a solid footprint in a quiet neighbourhood—someone who values a large yard over a large house, and who may be planning future expansions, gardens, or who simply appreciates the established character and space that older lots provide. It’s a practical choice for downsizers, first-time buyers comfortable with a home of this vintage, or investors attracted by the underlying land value.

Frequently Asked Questions

1. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, ceiling height, permits, or moisture control are not provided. This would be a key area for a buyer to investigate during a viewing and through direct questions to the seller.

2. How does the recent sale price increase affect property taxes?
The home sold for $43.6k in 2024, a significant jump from its 2023 sale price of $33.5k. While the current assessed value is $38.9k, this recent sale will likely be a factor in the next municipal assessment, potentially leading to higher property taxes.

3. Is the large lot an advantage for future building?
The above-average lot size is a major asset. It could provide room for additions like a garage suite, a substantial workshop, or a major landscape project. Buyers should verify all setback and zoning regulations with the city to understand the full scope of possibilities.

4. What should I consider with a 1953-built home?
While the basement is renovated, core systems like plumbing, electrical, insulation, and the roof will be at or beyond their typical lifespans. A thorough home inspection is essential to budget for any necessary updates or repairs.

5. How does this home rank for its price in the area?
The 2024 sale price ranked in the top 13% on its own street and top 29% in Crescent Park, indicating it sold for well above the average for comparable nearby homes at that time. This suggests buyers were competing for its specific combination of lot size, location, and condition.