Property Overview
1133 Mcmillan Avenue is a two-storey home built in 1946, situated on a generous 4,853 sqft lot in Winnipeg's Crescentwood neighbourhood. It features a renovated basement and a detached garage. The home presents a distinct profile: its lot size and assessed value rank well above average for its street, while its living space is more modest compared to neighbouring homes. This creates a specific and appealing opportunity.
Key Characteristics & Appeal
The primary appeal of this property lies in its land and location, rather than the size of the house itself. The lot is notably larger than most on Mcmillan Avenue (top 24%), offering valuable outdoor space and potential in a mature, established area. Combined with an above-average assessed value for the street, this suggests the land holds significant worth. The home itself, with its renovated basement, offers functional living space, but its 1,250 sqft footprint is compact relative to the neighbourhood's larger historic homes.
This profile suits a specific buyer: someone who values a prime Crescentwood address and the potential of a large lot, but does not require a large, high-maintenance house. It could be ideal for a downsizer seeking a manageable home with a spacious garden, or a value-conscious buyer or builder who sees the long-term potential in the land itself. The renovated basement adds immediate livability, making it move-in ready while the larger property value is tied to the lot.
Frequently Asked Questions
1. Why is the living area smaller than many area homes?
Many homes in Crescentwood are larger, historic estates. This property offers a more compact footprint on a similarly desirable lot, which can mean lower maintenance and utility costs while still providing the neighbourhood benefits.
2. What does the above-average assessed value indicate?
While the house is modest in size, the assessed value being in the top 20% on its street strongly reflects the premium value of the land in this location, not just the structure.
3. Is the renovated basement a full suite?
The details confirm a renovated basement, but do not specify if it is a legal suite with a separate entrance. This would be a key point to verify for potential rental income.
4. How does the 2021 sale price relate to the current assessed value?
The 2021 sale price was significantly lower than the current assessment. This large increase likely reflects major improvements (like the basement renovation) and strong market appreciation for well-located properties in the intervening years.
5. What is the typical character of homes on this street?
With a year built of 1946, this home is newer than most on Mcmillan Avenue (top 7%), where the average home was built around 1921. It may have a different architectural style or layout than the older, often larger, character homes prevalent in the area.