Property Overview: 808 Lyon Street, Crescent Park, Winnipeg
Key Characteristics & Appeal
This is a classic 1951 one-storey home on a notably large, 7,295 sqft lot in Winnipeg's Crescent Park neighbourhood. Its primary appeal lies in the land itself—the lot size is significantly above average for both the neighbourhood and the city, offering substantial space for gardening, expansion, or future redevelopment. The house is modest, with a living area of 998 sqft that is below average for the area, presenting it as a true fixer-upper or a candidate for significant renovation.
The property suits two distinct types of buyers. First, it’s ideal for an investor or builder who values the lot over the existing structure, seeing potential in the valuable land parcel. Second, it could appeal to a hands-on buyer looking for an entry point into a established neighbourhood, willing to invest sweat equity into modernizing a smaller, character home to suit their needs. Its assessed value is around average city-wide, suggesting the pricing reflects the balance between the desirable land and the home’s current condition.
Frequently Asked Questions
1. Is this a teardown property?
While the existing home is smaller and older than many in the area, it is not explicitly marketed as such. The value is heavily weighted toward the land, making it a prime candidate for a major renovation or rebuild, subject to local zoning.
2. How does the lot size compare practically?
At over 7,200 sqft, the lot is approximately 15% larger than the Crescent Park average and 10% larger than the city average. This provides tangible extra outdoor space compared to many standard urban lots.
3. What does the "below average" living area mean for daily life?
With under 1,000 sqft of living space, the home is compact. It would likely suit a smaller household or require thoughtful design to maximize functionality, potentially through a main-floor addition or a developed basement (though the listing notes "Basement: No").
4. Why was the last sale price so low in 2017?
The recorded sale of $26,100 is significantly below the current assessed value. This typically indicates a non-arms-length transaction, such as a transfer between family members, and does not reflect a market sale.
5. Is the detached garage included?
Yes, the listing specifies a "Detached" garage, which is a valuable asset given the large property and provides additional storage or workshop space.