Property Overview: 24 Werrell Crescent
Key Characteristics & Appeal
This 1977-built home in Valley Gardens presents a compelling value proposition. Its key appeal lies in offering above-average interior space on a manageable lot. With 1,254 sqft of living area, the home ranks in the top 24% of its neighborhood for size, providing more room than most nearby houses. This is balanced by a land area of 4,186 sqft, which is smaller than the local average, resulting in less yard maintenance—a practical advantage for many.
The most distinctive characteristic is its assessed value of $250k, which is significantly below averages for the street ($333.4k), neighborhood ($325.5k), and city ($390.1k). This suggests a potential entry point into a well-established area. The home suits first-time buyers seeking space without a premium price, downsizers looking for a comfortable interior without extensive grounds, or value-focused investors attracted by the below-market assessment in a mature community. It’s a home that prioritizes living space over land, offering practicality and immediate equity potential in its valuation.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbors?
While the exact reason isn't specified, a lower assessment can stem from factors like the home's specific condition, updates needed, or its smaller lot size. It's a critical starting point for discussion with a real estate professional to understand the market price versus this tax assessment.
2. Is the smaller lot size a major drawback?
It depends on your lifestyle. The lot is below average for the area, which means less yard work and lower outdoor maintenance costs. For buyers who prioritize indoor space or prefer a more manageable property, this can be a benefit rather than a drawback.
3. The home was built in 1977. What should I be aware of?
Built in 1977, the home is newer than the Winnipeg city average. Key systems like the roof, wiring, plumbing, and heating are likely original or have seen updates. A thorough inspection is essential to understand the condition and plan for any modernizations.
4. How does the living area compare realistically?
The living area is a strong point. At 1,254 sqft, it is genuinely larger than most similar homes in both the immediate neighborhood and on its own street, offering more interior space than you might expect for the price point.
5. What does the "Top X%" ranking actually mean?
These rankings compare this specific property against similar homes in different zones (street, neighborhood, city). For example, ranking in the "Top 24%" for living area in Valley Gardens means approximately 76% of comparable homes in the neighborhood are smaller. It provides context for how the home measures up in various categories.