71 Farnsworth Crescent

Property Overview: 71 Farnsworth Crescent, Winnipeg

Section 1: Key Characteristics & Appeal

This 2009-built home in River Park South offers a compelling blend of space, modernity, and value. Its primary appeal lies in its generous 2,264 sqft living area, which ranks within the top 4% of homes in the neighborhood, providing significantly more interior space than the local average. This makes it a standout for buyers seeking roominess without venturing into premium luxury pricing.

The property presents an interesting value proposition. While its assessed value of $553k is above average for both the neighborhood and the city, it is notably below the average for its own street. This suggests you are acquiring a home with superior interior space on a street of generally higher-valued properties, potentially offering more "house for the money" within that immediate context. The lot size is standard for the area, and the 2009 build date means major systems are relatively modern compared to much of Winnipeg's housing stock.

This home would suit practical, space-seeking buyers such as growing families who prioritize functional square footage over the largest possible yard. It’s also a sensible fit for those looking for a move-in-ready property from the late 2000s, avoiding the maintenance concerns of older homes or the premium of brand-new construction. A less obvious angle is its appeal to the value-conscious buyer who recognizes the advantage of owning one of the more modestly assessed homes on a desirable street, which can be a prudent long-term position.

Section 2: Frequently Asked Questions

1. Is the assessed value a reliable indicator of the likely selling price?
Not directly. The assessed value of $553k is for municipal tax purposes. Market price is determined by current conditions. Notably, this home's assessment is below the street average of ~$688k, which could indicate a different valuation approach or property features, but the actual sale price will be set by the market.

2. How does the living space truly compare to other homes?
Very favorably. With 2,264 sqft, this home is significantly larger than the River Park South average (1,410 sqft) and the Winnipeg average (1,342 sqft). On its own street, it is slightly above the average living area, placing it in the middle of the pack there but elite in the wider neighborhood.

3. What does the 2016 sale price tell us about today's value?
The prior sale (between $400k-$450k in April 2016) provides a historical baseline, showing appreciation over nine years. However, it does not reflect current market value, which has been influenced by many factors since then, including recent interest rate changes and local market dynamics.

4. Why is the assessed value lower than the street average?
While specific reasons aren't listed, common factors include differences in lot size (this lot is slightly smaller than the street average), finishes, upgrades, or specific layout features. It's an important point to investigate, as it may represent a value opportunity or reflect a simpler finish level.

5. How can I get the exact historical sale prices for this property?
The website does not display MLS sold data due to association rules. You must request exact figures via email from the site provider, who will manually look up and send the information. The sold prices shown here are estimates from public records.