Property Overview
This home at 3 Blue Spruce Crescent presents a distinct value proposition centered on its generous lot. Built in 1972, the 720 sqft house is notably compact compared to area averages, but it sits on a 7,140 sqft property that ranks in the top 10% for size on its own street. With an assessed value of $360k, it is positioned as an around-average investment for the city and its immediate crescent, but below the average for the broader Minnetonka area.
Its primary appeal lies in the significant land-to-building ratio, offering ample outdoor space and future potential that is uncommon for homes at this price point. The appeal is for a specific buyer: those who prioritize yard space, garden potential, or future expansion (like an addition or garage) over immediate square footage. It would suit a first-time buyer comfortable with a cozy layout, an investor looking for a property with land value, or someone seeking an affordable entry into a neighbourhood with the option to customize or enlarge the home over time. A less obvious perspective is that the below-average living area for the area results in proportionally lower property taxes and utility costs, which can be a long-term financial benefit.
Frequently Asked Questions
1. Why is the living area significantly smaller than area averages?
The 720 sqft home is a compact bungalow built in the early 1970s. While many homes in Winnipeg and Minnetonka have been expanded or are simply larger, this property retains its original footprint, which is reflected in its rankings.
2. What does the "above average" land area ranking mean practically?
With a 7,140 sqft lot ranking in the top 10% on its street, you are getting significantly more yard space than most neighbours. This allows for larger gardens, recreational space, parking, or the valuable option for a future addition, subject to zoning.
3. How does the assessed value compare, and what does it indicate?
The $360k assessment is around the city median and average for Blue Spruce Crescent itself, but below the Minnetonka area average. This suggests you are paying primarily for the land and location, with the structure itself contributing less to the valuation—a common scenario for older, smaller homes on large lots.
4. What can the 2016 sale price range tell me?
The prior sale in the $250k-$300k range eight years ago provides a historical benchmark, indicating the property has appreciated. The exact price is available upon request to help understand the precise market growth.
5. Who would this property not suit?
This home would likely not suit buyers who need multiple large bedrooms, dedicated home office spaces, or who prefer a modern, open-concept layout without immediate renovation plans. The value here is in the land and potential, not in move-in-ready size.