Property Overview: 22 Cedargrove Crescent, Mission Gardens, Winnipeg
Key Characteristics & Appeal
This 1,328 sqft bungalow, built in 1986 on a 4,996 sqft lot, presents a compelling opportunity in the Mission Gardens neighbourhood. Its primary appeal lies in its strong relative value within its immediate area. The home ranks in the top 10% for living area on its own street and the top 25% within Mission Gardens, offering more interior space than many nearby comparables. While its assessed value is modest at $37.7k, its recent 2023 sale in the $400k-$450k range suggests a market value that aligns with a well-maintained, spacious home for the area.
The property suits buyers looking for a established, roomy bungalow in a mature neighbourhood without paying a premium for a newer build. It’s a practical choice for those who value space over a brand-new renovation, and for owner-occupiers or investors who understand that the assessed value is not reflective of market price. A thoughtful perspective is that this home represents a "middle ground"—it’s not the newest or largest in the city, but it stands out as a above-average offering on its street and in its community, which can be a marker of stability and desirability.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sold price?
Municipal property assessments in Manitoba are primarily for taxation purposes and often lag behind current market values. They are based on mass appraisal techniques and may not reflect recent renovations, specific market demand, or the exact condition of a home. The sold price is a clearer indicator of its market value.
2. How does the living area compare to typical homes nearby?
Very favorably. With 1,328 sqft, this home is significantly larger than the average on Cedargrove Crescent (~1,020 sqft) and in the Mission Gardens area (~1,162 sqft). This means you get more interior space than most of your potential neighbours.
3. What does the "Top 10%" ranking for living area on the street mean?
It means that out of 72 comparable homes on Cedargrove Crescent, only 6 have a larger living area than this property. It’s a strong indicator that this is one of the more spacious homes on the block.
4. The home is 40 years old. What should I consider?
A home from this era may have original major components, like the roof, windows, or furnace, that are nearing or at the end of their typical lifespan. A thorough inspection is crucial to budget for any necessary updates, but the construction quality of this period is generally considered solid.
5. How can I find out the exact sold price from 2023?
The exact sold price is not publicly displayed online due to data licensing. You can request it directly from SaveOnHouse by providing your email address. They provide this detail manually and state they will not use your contact information for unsolicited marketing.