Property Overview: 68 Leahcrest Crescent, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 68 Leahcrest Crescent in Mandalay West is defined by its efficiency and value-oriented footprint. Built in 1983, it is a modest 752 sqft bungalow situated on a larger-than-average lot for the area (over 6,200 sqft). Its assessed value is notably below average for the immediate street and neighbourhood, but aligns more closely with the Winnipeg city-wide average.
The primary appeal lies in its affordability and land potential. It represents a lower entry point into a stable neighbourhood, making it particularly suited for first-time buyers, downsizers seeking minimal upkeep, or investors. The generous lot size is a standout feature, offering future possibilities for expansion, gardening, or outdoor space that is uncommon for homes at this price point. It’s a property that prioritizes land over living space, appealing to those who see long-term potential or value in outdoor privacy. The recent sale in the 2022-2024 period suggests it has been a functional, lived-in home.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 752 sqft, the living area is significantly smaller than most homes on the street and in Mandalay West. It would suit a single person, a couple, or someone looking for a minimalist lifestyle. The floor plan and layout will be key factors in determining if the space meets your needs.
2. Why is the assessed value lower than the neighbourhood average?
The below-average assessment for the area is likely a direct reflection of the home’s smaller size and older construction (1983) compared to many neighbours. This can be an advantage, potentially leading to relatively lower property taxes.
3. What can I do with such a large lot?
The lot is a major asset. Beyond a spacious yard, it provides a rare opportunity in this price range for future additions, like an extension, a garage, or a dedicated outdoor living area. It’s a feature that adds long-term value and flexibility.
4. How does the sale history affect the value?
The home sold between $350k-$400k around 2022-2024. This recent transaction provides a concrete market benchmark, indicating what buyers were willing to pay for this specific combination of small home and large lot in the current market cycle.
5. What are the less obvious things to consider?
Consider the cost balance: savings on the purchase price must be weighed against potential needs for modernization or efficient space planning. Also, while the lot is large, check local zoning bylaws (R1) for any restrictions on future builds or additions. Finally, the age of the home (43 years) means a thorough inspection of major systems like roof, plumbing, and foundation is essential.