Property Overview
This 1952 one-storey home at 133 Buxton Road in Winnipeg's Crescent Park neighbourhood presents a specific and appealing opportunity. Its key characteristic is the generous 6,514 sqft lot, which is above average for the city. The living space is modest at 960 sqft, and the home features a renovated basement and a detached garage. Its last sale was in March 2018 for $330,000.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its land. The lot size is substantial, offering well-above-average outdoor space for the city, which is a significant asset for gardening, recreation, or future expansion. The renovated basement adds valuable finished living area, and the detached garage provides flexible storage or workshop space. As a post-war bungalow, it sits on a mature, established street.
This home would best suit a practical buyer who values space and potential over immediate square footage. It's ideal for a first-time homeowner comfortable with a cozy main floor who desires a large yard, or for an investor or renovator who sees the underlying value in the lot and the already-updated basement. It’s less suited for those seeking a large, modern interior without renovation work.
A thoughtful perspective: while the living area ranks below average, this can represent an opportunity to add value through a thoughtful addition that the large lot can easily accommodate, making it a strategic buy for the long term.
Section 2: Frequently Asked Questions
1. Is the house too small for the lot?
While the 960 sqft home is notably smaller than area averages, this isn't inherently negative. It means a greater portion of your property investment is in the land itself, which holds long-term value and offers clear potential for expansion.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A buyer should inquire about the finish quality, ceiling height, permits, and whether it includes a bathroom or legal secondary suite potential.
3. How does the 2018 sale price relate to today's value?
The $330,000 sale price from 2018 is a historical data point. Current value is determined by today's market conditions, recent comparable sales, the property's condition, and its unique lot advantage.
4. Are older homes like this expensive to maintain?
Built in 1952, major systems like the roof, plumbing, and electrical may be at or beyond their typical lifespan. While the basement is renovated, a thorough inspection of the core structure and these essential systems is crucial.
5. The assessed value seems low. Why?
The $41,300 assessed value is for municipal tax purposes only and is not an indicator of market value. Market value is typically much higher, as reflected in the 2018 sale price and current area listings.