Property Overview: 100 Hillcrest Avenue, Norwood East, Winnipeg
Key Characteristics & Appeal
This 1928 home presents a distinct value proposition centered on its generous 5,181 sqft lot in the established Norwood East neighborhood. While its 715 sqft living area is notably compact—ranking in the bottom 12% for the street and area—its assessed value of $285k is firmly average for its immediate block. This creates an interesting dynamic: you are acquiring a property with a land footprint that is larger than most on the street (top 19%) at a price point that aligns with nearby homes. The appeal lies in this land potential and location, rather than in the size of the existing structure.
The property would best suit a specific type of buyer: someone looking for an entry point into a mature neighborhood who is comfortable with a cozy footprint, or a strategic buyer with a long-term vision. This could be a first-time homeowner willing to trade interior space for yard size and future potential, or an investor considering the lot’s value for future redevelopment. It’s a pragmatic choice for those who prioritize land and location over immediate living space, with an understanding that the existing home may require updates reflective of its age.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $285k is very close to the average for Hillcrest Avenue itself, suggesting it is a reasonable market benchmark for the immediate area. However, the last known sale in 2022 fell within the $300k-$350k range, which was above average for the neighborhood at that time. Market conditions and property updates since then will be the ultimate determinants.
2. How does the small living area impact livability and value?
The 715 sqft footprint is significantly below average, indicating a compact layout. This affects day-to-day living space and storage, which is a key consideration for growing families. For value, it means the price is primarily supported by the land and location, not the size of the structure.
3. What does the large lot size mean for me?
The 5,181 sqft lot is a standout feature, offering ample outdoor space for gardens, recreation, or additions. In the long term, it may also provide more options for renovation or redevelopment compared to properties with smaller lots, adding a layer of potential value.
4. Are there concerns with a home built in 1928?
While the home’s age on this street is actually above average (newer than many neighbors), any near-century-old property will require careful attention to foundational, mechanical, and structural systems. Prospective buyers should budget for potential updates to wiring, plumbing, insulation, and the roof.
5. How can I get the exact historical sold prices?
The displayed sold price data is based on public records, not the MLS. To obtain fully verified and exact sale figures from the MLS system, you must request a manual lookup from the site via email, as industry rules prevent the direct publication of that data.