Property Summary: 221 Kingsway, Crescentwood, Winnipeg
Key Characteristics & Appeal
This two-storey home on a generous 6,466 sqft lot in the established Crescentwood neighbourhood presents a distinct value proposition. Built in 1978, it is a notably newer construction compared to most heritage homes in the area, offering modern infrastructure while situated on a prestigious street. The home features a renovated basement and a detached garage.
Its primary appeal lies in its position as a land-value opportunity in a prime location. The living space (2,074 sqft) is comfortable yet efficient, particularly when viewed city-wide, but is modest relative to some larger, older estates on Kingsway. This creates a unique niche: it suits buyers who prioritize location and lot size over a massive existing footprint, and who may see potential in the property’s underlying value. It would be ideal for a downsizer seeking a low-maintenance, newer home in a top neighbourhood without the upkeep of a century-old property, or for a value-conscious buyer planning a future renovation or expansion who is secured by the excellent lot size. The recent sale price significantly above the assessed value suggests strong market recognition of this potential.
Frequently Asked Questions
1. Is the house significantly smaller than its neighbours?
Yes, compared to other homes on Kingsway itself, the living area is below the street average. However, it is on par with the broader Crescentwood average and is well above the average Winnipeg home, offering a balanced size.
2. What does "newer build" mean in this context?
Built in 1978, this home is among the newest on its block and in Crescentwood, where many homes date from the early 1900s. This typically means more modern wiring, plumbing, and insulation, potentially reducing immediate repair costs.
3. Why was the sale price so much higher than the assessed value?
Municipal assessed value for taxation purposes often lags behind market value, especially in desirable areas. The premium paid reflects the strong buyer demand for a large, developable lot in Crescentwood with a modern(ish) home already on it.
4. Who might this property not suit?
It may not suit buyers seeking a classic, grand Century Home with original character, or those who need maximum interior square footage immediately without undertaking renovations.
5. What is the potential here for a future owner?
The combination of a large lot and a newer structure provides flexible options: enjoying it as-is, expanding the existing home, or eventually redeveloping the site—all from a secured position in one of Winnipeg’s most sought-after neighbourhoods.