Property Overview
This 1913 two-and-a-half storey home in Crescentwood presents a classic Winnipeg character property with significant potential. Its key appeal lies in its established neighbourhood setting and the opportunity it represents. The home sits on a 3,031 sqft lot, which is modest for the prestigious Crescentwood area but is a manageable size. With 1,922 sqft of living space, it offers ample room and is notably larger than the average Winnipeg home. A significant point is the home's assessed value, which ranks above average both on its street and city-wide, suggesting underlying value in the location and structure. The basement exists but is noted as not renovated, and the property has no garage or pool.
This property would suit a specific type of buyer: a renovator or investor looking for a character home in a desirable area without the burden of an excessively large lot. It’s a project, ideal for someone who values location and historic charm over move-in-ready condition and is prepared to modernize the interior and basement to their own taste. It may also appeal to those seeking a relatively larger interior living space without the corresponding maintenance of a vast yard.
Frequently Asked Questions
1. What does "below average" land area for Crescentwood mean practically?
While the lot is smaller than most in this neighbourhood, it translates to less yard maintenance—a potential benefit for buyers who prefer the area's prestige and tree-lined streets but want a more manageable outdoor space.
2. The assessed value seems high relative to the last sale price. Why?
The assessed value is a municipal valuation for tax purposes, not a market price. The significant gap between the 2017 sale price and the current assessed value likely reflects rising property values in the area and suggests the municipality sees increased value in the location, even if the home itself requires updates.
3. Is the unrenovated basement a major concern?
It indicates a project. While it offers potential for additional living space, a buyer should budget for professional inspection regarding moisture, foundation integrity, and necessary upgrades to meet modern standards.
4. How does the lack of a garage affect daily life and value?
On-street parking is the norm here. For some buyers, this is a drawback; for others, it's a typical trade-off for an older, central neighbourhood. It does limit storage and workshop space, which is a consideration for renovation projects.
5. The home is older than the city average. What should I be mindful of?
A 1913 home will have character but likely requires attention to aging infrastructure. A thorough inspection should focus on the electrical system, plumbing, insulation, and the roof. The charm comes with the responsibility of ongoing upkeep typical of a century-old structure.