Property Overview: 1015 Grosvenor Avenue, Crescentwood
Key Characteristics & Appeal
This is a substantial, classic two-and-a-half storey home built in 1912, situated on a generous 6,043 sqft lot in the established Crescentwood neighbourhood. Its primary appeal lies in its above-average scale and the value proposition of its location. With over 3,000 sqft of living space, the home offers significantly more room than most city-wide properties and is notably larger than many in its immediate area. This presents a clear opportunity for buyers seeking character-home proportions without being on the largest lot.
The home last sold in late 2021 for $950,000, a price point that placed it in the top tier for the street and neighbourhood, indicating strong market recognition for its combination of size and location. The property suits buyers who value space and established communities over new construction. It’s ideal for someone ready to take on a home with a basement that hasn't been renovated and who sees potential in a solid, century-old structure. A thoughtful perspective is that while the home is older than the city average, its age is typical for prestigious Crescentwood, suggesting its character is part of its inherent value. The detached garage and large lot also offer flexibility for future expansion, gardening, or outdoor living, which is a premium in mature neighbourhoods.
Frequently Asked Questions
1. What does "above average" living area really mean for this home?
With 3,028 sqft, this home is significantly larger than both the Winnipeg average (~1,342 sqft) and the Crescentwood average (~2,353 sqft). You are purchasing a home with the interior space of a much larger, modern property, but within the fabric of a classic neighbourhood.
2. The assessed value is much lower than the last sale price. Why?
Municipal assessed value for taxation purposes often lags behind market value, especially after rapid market changes. The 2021 sale at $950k is a more current indicator of its market worth, reflecting what buyers were recently willing to pay for this specific property.
3. Is the older year of construction (1912) a concern?
It is a consideration for maintenance and systems. However, in Crescentwood, a 1912 build date is common and contributes to the neighbourhood's historic charm. The key will be to understand the current condition of major components like the roof, wiring, and plumbing through a thorough inspection.
4. How does the lot size compare?
At just over 6,000 sqft, the lot is larger than the average for Grosvenor Avenue itself. It provides ample backyard space, which is a valuable asset in this area, but it is not an exceptionally large estate-sized parcel compared to some in the wider neighbourhood.
5. What can the past sale history tell me?
The home sold for $30,500 in late 2019 before its $950,000 sale in late 2021. This dramatic increase likely represents a significant renovation, flip, or change in property status (e.g., from a rooming house to a single-family home). Requesting details on the 2021 sale and any work done during that period is crucial.