Property Overview
This home at 203 Reay Crescent presents a practical opportunity in Winnipeg's Valley Gardens neighborhood. Its key appeal lies in being a competitively priced, established property on a good-sized lot, but with a living space more compact than the local average.
Key Characteristics & Buyer Profile
The 842 sqft bungalow, built in 1974, is slightly newer than many on its street. It sits on a 5,002 sqft lot, which is very close to the neighborhood average, offering decent outdoor space. The city-assessed value of approximately $322k is consistently "around average" at every comparison level—street, neighborhood, and city—indicating a fair and stable valuation in line with the area.
The primary trade-off is living space: the home's square footage ranks in the bottom 10% on its own street and bottom 12% in the wider neighborhood. This creates a specific dynamic: you're acquiring a solid lot in an established area, but the house itself is a more efficient footprint.
This property would suit first-time buyers or downsizers seeking an affordable entry into a mature neighborhood, prioritizing lot size and location over interior space. It's also a potential candidate for investors or handy buyers who see the value in the land and the possibility of a future expansion or renovation, given the home's newer-than-street-average age.
Frequently Asked Questions
Q: The home seems small compared to neighbors. Is it a full-sized house?
A: Yes, it's a detached, single-family home. The data shows its living area is genuinely more compact than most comparable homes on the street and in Valley Gardens, which is reflected in its accessible price point for the lot and location.
Q: What does the "around average" assessed value tell me?
A: It suggests the city's valuation is in line with the immediate area. This can provide confidence that the property is not over-assessed and that its pricing should be competitive within the neighborhood market.
Q: The home was built in 1974. Are there any positives to that?
A: While not new, it is actually two years newer than the average build year on Reay Crescent itself. Homes from this era often feature simpler, more modifiable layouts and have undergone several cycles of updates, potentially including major systems like wiring or windows.
Q: How should I interpret the lot size ranking?
A: The lot is just slightly below the street average but very close to the neighborhood average. In practical terms, it means your yard space is typical for Valley Gardens, not unusually small or large, which is a positive for maintenance and usability.
Q: Does ranking in the bottom percentile for size mean the house is problematic?
A: Not necessarily. It primarily defines the offering: this is a value-driven option where you are paying for location and land. It highlights the importance of viewing the layout to ensure it meets your spatial needs, as the square footage is its most significant compromise.