Property Summary: 715 South Drive, Crescent Park, Winnipeg
Key Characteristics & Appeal
This is a substantial, character-filled home built in 1902, situated on an exceptionally large lot in the desirable Crescent Park neighbourhood. The property’s primary appeal lies in its unique combination of historic charm, generous space, and a premier location. With 2,688 sqft of living space, the home is significantly larger than most in Winnipeg and sits on a private 18,362 sqft lot that ranks among the city’s elite for size. A renovated basement and attached garage add modern functionality.
Its charm is balanced by a clear project aspect, given its age. It suits a specific buyer: someone seeking a legacy property with room to grow, garden, or entertain, who values space and location over a modern build. It’s ideal for a buyer comfortable with the stewardship of a historic home, possibly looking to tailor it further over time. The recent sale price significantly above the assessed value suggests the market places a high premium on this rare combination of lot size and location that official valuations don't fully capture.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specifics on finish quality, ceiling height, moisture management, and legal egress should be verified through a viewing and inspection, especially in a home of this age.
2. How does the assessed value compare to the sale price?
The home recently sold for $800,000, while its last assessed value was $71,300. This large discrepancy is common for older, character homes on premium lots, as the market value heavily reflects the irreplaceable land and location, whereas the assessment is formula-driven and often lags behind rapid market shifts in desirable areas.
3. What are the implications of the 1902 build date?
While offering classic character, a home this old requires diligent maintenance. Prospective buyers should prioritize a thorough inspection focusing on foundational integrity, updated electrical and plumbing systems, insulation, and the roof. The charm comes with the responsibility of ongoing care.
4. Is the large lot a benefit or a burden?
It is a major asset for privacy, gardening, or expansion, but it also means higher property taxes and more yard maintenance. The lot size is a key driver of the property's value and elite ranking within the city.
5. How does this home rank compared to its neighbours?
The data shows a fascinating contrast. On its own street of large homes (South Drive), its lot and living space are around average. However, within the broader Crescent Park neighbourhood and city-wide, it ranks in the elite top 2-5% for both lot and living area, highlighting its truly exceptional standing in the wider market.