Property Overview
This single-storey home at 420 Hillary Crescent in Winnipeg's Crestview neighborhood presents a specific and straightforward opportunity. Its key appeal lies in being an affordable, no-frills entry point into the Winnipeg market. With 1,076 sqft of living space, the house itself is of average size for the area, but its standout characteristic is its notably low assessed value, which sits well below averages for the street, neighborhood, and city. The home is on the newer side for the street (built in 1967), but sits on a smaller lot. It features a basement that has not been renovated and has no garage or pool. Recent sales history shows steady appreciation.
This property would primarily suit a first-time buyer or an investor looking for a budget-conscious purchase. It’s a practical choice for someone willing to live with the home’s current condition or to undertake renovations over time. The low assessment also suggests potential for value growth with updates, making it a candidate for a buyer with a longer-term view and some DIY capability.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is significantly below area averages, which typically reflects the home's specific condition, features (like the lack of a garage and unrenovated basement), and its smaller lot size. It indicates a property priced for its current state, not its potential.
2. What does the sales history tell us?
The home sold in 2019 for $21.5k and again in 2023 for $26.8k. This shows a clear pattern of appreciation, suggesting the market recognizes underlying value or the area's stability, even for homes in basic condition.
3. Is the smaller lot a major drawback?
While the lot is below average in size for the street, it may be manageable for those seeking lower maintenance. The trade-off for the lower price is less outdoor space, which buyers should weigh against their needs.
4. Who might this home not be suitable for?
It would likely not suit buyers seeking a move-in-ready home, those who require a garage, or families desiring ample yard space. It’s best for those with realistic expectations about its current condition.
5. What is the significance of the home being "newer" for the street?
Built in 1967, it's newer than many on its specific block. This is a subtle positive, potentially meaning slightly newer core systems (like plumbing or electrical) compared to immediate neighbors, though a full inspection is still essential.