Property Overview: 125 Riley Crescent, Crescent Park, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Crescent Park is defined by two standout features: its generous lot size and its updated basement. With over 10,800 square feet of land, the property offers a rare amount of outdoor space for the area, ranking in the top 5-10% of lots citywide and on its street. This presents significant potential for gardening, expansion, or simply enjoying a large, private yard. The home itself, built in 1954, is above average in size for Riley Crescent and features a renovated basement, adding valuable finished living space.
The primary appeal lies in this combination of a sizable, versatile lot with a move-in-ready lower level. It suits buyers looking for a solid, single-level living option in a mature neighborhood who prioritize outdoor space over a modern build or garage. It’s an ideal match for downsizers, first-time buyers, or investors seeking a property with a strong land value component and recent updates to the living area. A thoughtful perspective is that while the home’s assessed value is average for the area, the elite-sized lot provides a tangible asset that may offer better long-term value appreciation or flexibility than a home on a standard parcel.
Section 2: Frequently Asked Questions
1. How does the lot size compare to typical city lots?
The lot is exceptionally large, placing it in the top 5% of all residential properties in Winnipeg. It is nearly double the average lot size for the Crescent Park area.
2. What does "renovated basement" typically include?
While specific finishes aren’t listed, a renovated basement generally means it has been finished into a livable space, which could include recreation rooms, additional bedrooms, or a suite, adding functional square footage to the home.
3. Is the lack of a garage a major concern?
This depends on buyer needs. Many older homes in mature neighborhoods lack garages. The large lot does offer potential space for adding a garage or shed, subject to local bylaws and permits.
4. How current are the property value assessments?
The provided assessed value is a municipal assessment for tax purposes and may not reflect the current market sale price. It is best used as a benchmark against neighboring properties, where this home ranks around the average.
5. The home was last sold in 2017. What does that indicate?
A seven-year ownership period suggests stability and that the sellers were likely long-term residents. It implies any renovations, like the basement, were probably done for personal use and enjoyment rather than as a quick flip.