Property Overview: 53 Pike Crescent, Winnipeg
Key Characteristics & Appeal
This is a compact, single-family home built in 1969 on a standard city lot in the Munroe East neighbourhood. At 696 square feet, the living space is notably efficient—it ranks well within its immediate street but is smaller than most homes in the wider area and city. This creates a distinct profile: it’s a more modestly scaled property in a neighbourhood of generally larger homes.
The primary appeal lies in its affordability and manageability. With an assessed value significantly below area and city averages, it presents a lower financial barrier to entry for homeownership in Winnipeg. The lot size, while smaller than the neighbourhood average, still provides usable outdoor space without the burden of extensive maintenance.
This property would suit first-time buyers seeking a foothold in the market, downsizers looking to reduce living space and property upkeep, or pragmatic investors interested in a rental property with a relatively low tax assessment. Its size and value position it as a practical, no-frills option rather than a premium property, offering utility over grandeur.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (listed as $24,900) is for municipal tax purposes only. The market value—what a buyer would pay—is typically much higher, as indicated by the home’s last sold price range of $200k-$250k in 2020.
2. How does the smaller living area impact daily living?
The 696 sqft layout requires efficient use of space. It’s workable for individuals, couples, or those comfortable with compact living, but may feel constrained for families or those with a lot of belongings. It encourages a minimalist lifestyle.
3. The home is older. What should I be prepared for?
Built in 1969, major systems like roofing, plumbing, and electrical are likely original or nearing the end of their service life. A thorough inspection is crucial, and budgeting for updates or repairs should be part of your planning.
4. Why is the assessed value so much lower than the city average?
The assessed value reflects this specific home’s characteristics—its smaller size, age, and lot—compared to the broader market. It doesn’t mean the property is deficient, but it does result in a proportionally lower property tax bill, which is a tangible benefit.
5. How does this property compare to others on the same street?
On Pike Crescent, this home is fairly average in terms of age and lot size, but it has less living space and a lower assessed value than most of its direct neighbours. This suggests it’s one of the more modest homes on the block.