Property Overview: 58 Granada Crescent, Heritage Park, Winnipeg
Key Characteristics & Appeal
This one-storey home at 58 Granada Crescent is a classic 1970s bungalow situated on a notably large lot. Its key strength lies in the land itself—at nearly 9,500 square feet, the property size ranks within the top 5% of the Heritage Park neighbourhood, offering significant outdoor space and potential. The living area of 1,272 sq. ft. is modest but above average for its immediate street. It features an attached garage and a basement that is present but not renovated, presenting a clean slate for future projects.
The appeal here is grounded in space and location. The home suits buyers looking for a solid, no-frills foundation in a well-established area, with the lot size being a prime asset. It’s an ideal match for a hands-on buyer who sees value in the property’s underlying equity—the generous yard—and is comfortable with the idea of updating the interior over time. It’s less suited for those seeking a turn-key or modernized home, as the basement condition suggests immediate work may be desired. A thoughtful perspective is that while the home’s assessed value is average for the city, the superior lot size provides a tangible hedge against inflation and a rarity factor that smaller, newer lots cannot offer.
Frequently Asked Questions
1. What is the true potential of the large lot?
Beyond simple gardening or play space, a lot of this size (over 9,450 sq. ft.) could accommodate significant landscaping projects, a future addition, or the potential for a secondary outdoor structure, subject to local zoning bylaws. It’s a key feature that adds long-term flexibility and value.
2. What does "basement not renovated" imply?
This typically means the basement is in original or functional condition but may require finishing, moisture-proofing, or updating to modern standards. It’s an important factor for budgeting renovations and may affect immediate livable square footage.
3. How does the home’s age (1970) affect it?
Built in 1970, the home is among the newer properties on its street. This can be positive, potentially meaning updated building materials and systems for its era, but a thorough inspection of the roof, windows, and major mechanical systems (like plumbing and electrical) common to homes of this age is still essential.
4. Is the assessed value a reliable indicator of the selling price?
Not directly. The assessed value of approximately $358,000 is for municipal tax purposes. The last recorded sale was in 2021 for an estimated $325,000-$355,000. Market conditions, property condition, and buyer demand will determine the final sale price, which can be above or below assessment.
5. How does this home compare to others in Heritage Park?
The home offers more land than 95% of properties in Heritage Park, but its living space and assessed value are around the neighbourhood average. This positions it as a property where the value is disproportionately in the land itself rather than the current structure’s size or luxury.