Property Overview & Key Characteristics
This one-and-a-half storey home on Crescent Drive presents a classic Winnipeg character property with significant potential. Built in 1946, its primary appeal lies in its generous 8,625 sqft lot, which ranks in the top 19% for size within its established neighbourhood. While the 876 sqft living area is compact, the property features a full, unrenovated basement and a detached garage. The assessed value is notably modest compared to many nearby properties, suggesting an entry point into a desirable area.
Its appeal is for the value-conscious buyer or investor who sees potential in land and location over a move-in-ready finish. It would suit a hands-on buyer looking for a project—whether to renovate the existing home or, longer-term, to redevelop the sizable lot. The property also stands out for those prioritizing lot size and privacy in a mature setting over square footage. A less obvious perspective is its potential as a multi-generational option; the large lot could allow for future additions or a secondary suite (subject to approvals), which is rare in older core neighbourhoods.
Frequently Asked Questions
1. What does "one-and-a-half storey" typically mean for a home of this era?
This style usually features a main floor with principal rooms and a second floor under sloped roof lines, creating cozy bedrooms with potentially reduced ceiling height in some areas. It's a charming, classic design common in post-war Winnipeg.
2. The assessed value seems low compared to some neighbours. Why is that?
Municipal assessments are based on mass appraisal models and may not fully capture recent market shifts or specific property conditions. A lower assessment can indicate an older valuation or reflect the home's unrenovated state, but it does not directly dictate market price.
3. Is the large lot a benefit for future expansion or redevelopment?
Potentially, yes. A lot of this size (nearly double some standard city lots) offers flexibility. It could accommodate a significant addition, a garden suite, or, in the future, may be attractive for subdivision or redevelopment, subject to city zoning and regulations.
4. What are the implications of an unrenovated basement?
This means the basement is in original or functional condition but not updated. Buyers should budget for potential moisture management, insulation, and modernization. It represents both a cost consideration and a blank canvas for finishing to suit one's needs.
5. How does this property compare to the nearby "for reference" listings?
The comparisons show a range of values and sizes in the area. This home sits at a lower price point, offering a larger lot but smaller living area than many. It positions the property as a land-value and opportunity play versus a comparison based on finished living space.