Property Overview & Appeal
This single-storey home in Crescent Park is defined by its generous, above-average lot size of nearly 7,000 sqft, offering significant outdoor space that is rare for the city. Built in 1954, it features a renovated basement, adding functional living area to the modestly sized main floor. The appeal lies in this land potential; it’s a property where the value is anchored in the lot itself, presenting a clear opportunity for expansion, gardening, or future redevelopment. It would particularly suit a buyer looking for a solid footprint in a established neighbourhood without paying a premium for a large existing house—ideal for a downsizer seeking single-level living with room for hobbies, or a strategic buyer viewing it as a long-term hold or renovation project with ample yard space.
Frequently Asked Questions
1. Is the living space too small?
At 1,010 sqft, the main living area is below average for the immediate area. However, the renovated basement provides additional finished space, and the property's primary advantage is the large lot, which allows for future additions if desired.
2. What does the assessed value indicate?
The assessed value is notably low compared to city-wide averages, which typically reflects the home's older age and smaller main-floor footprint. It's important to note that assessed value for tax purposes often differs significantly from current market value, which is influenced by lot size, location, and condition.
3. How does the lot size compare?
The lot is a key feature. At 6,984 sqft, it ranks in the top 29% on its street and top 17% city-wide, meaning it is substantially larger than many Winnipeg properties, offering privacy and potential not found in newer subdivisions.
4. What is the neighbourhood like?
Crescent Park is a mature, established neighbourhood. The property metrics show it sits among homes of similar vintage, suggesting a streetscape of older, character homes with varied sizes, appealing to those seeking a central location without a cookie-cutter feel.
5. Are there any major drawbacks?
The home lacks a garage, which is a consideration for vehicle storage or workshop space. Buyers should also factor in that a home from 1954 will likely require updates to major systems (like plumbing or electrical) over time, even with a renovated basement.