164 Alcrest Drive

Property Overview

This 1965-built, one-storey home on a large, nearly 8,800 sqft lot offers a classic and practical living arrangement. Its key appeal lies in the combination of a spacious, private yard and a fully finished basement, providing flexible living space beyond its 1,211 sqft main floor. The home features an attached garage and a layout typical of its era, presenting a solid opportunity for buyers seeking a grounded, no-frills property.

Its standout characteristic is its land size, which ranks in the top 9% of all Winnipeg lots, offering exceptional outdoor potential. While the house itself is older and ranks average to below average within its immediate neighborhood for size and assessed value, its recent sale price in late 2023 surpassed both the assessment and a majority of city-wide transactions, indicating a market recognition of its underlying value. This property would suit a buyer who prioritizes yard space over a modern turn-key home—perfect for families, gardeners, or those planning future expansions or renovations. It’s a home where the true asset is the land it sits on, appealing to those with a vision to enhance the existing structure or who simply desire generous outdoor room in the city.

Frequently Asked Questions

1. How does the recent sale price compare to the city assessment?
The home sold for $440,000 in November 2023, which is significantly higher than its current assessed value of $350,000. This suggests the market valued the property's lot size, condition, or potential beyond the municipal assessment.

2. What does the lot size ranking actually mean?
The lot is approximately 8,794 sqft, which places it in the top 9% of all residential properties in Winnipeg for size. This is a key advantage, offering more privacy, space for recreation, gardens, or future additions than most city lots.

3. Is the home outdated due to its age?
Built in 1965, the home is over 50 years old. Buyers should anticipate maintenance and systems (like roof, plumbing, wiring) consistent with its age. However, the fully finished basement adds usable living space, and the classic one-storey layout can be very functional.

4. How does it rank within its own neighborhood (Vialoux)?
The rankings show a mixed picture. While its lot size is exceptional city-wide, within Vialoux it ranks around the middle for lot size and below average for living area and assessed value. This indicates it's a solid, average property in the local context, distinguished primarily by its larger yard.

5. What is the potential here for a buyer?
The potential is closely tied to the lot. The large parcel is the prime asset. For a buyer willing to update or renovate the existing home, it offers a chance to create significant value. Alternatively, it serves as an affordable entry into a neighborhood with the benefit of ample outdoor space that is increasingly rare.