Property Overview
This home at 260 Victoria Crescent presents a compelling blend of space, prestige, and prime location. Its key appeal lies in its significant scale and elite standing, particularly when viewed in a city-wide context. The nearly 2,000 sqft living area is well above average for both its street and the entire city, offering substantial interior space. The property's most striking feature is its expansive 20,100 sqft lot, which places it in the top 1% of all comparable properties in Winnipeg, offering exceptional outdoor potential and privacy. With an assessed value also in the city's top 1%, this is a property that signifies both luxury and investment.
The home, built in 1973, is newer than many on its street but is average for the city, suggesting it may offer modernized systems within an established neighbourhood setting. This property would ideally suit buyers seeking a landmark home with room to grow or entertain, who value a large private yard in the city. It also appeals to those looking for a premium asset in a well-regarded area, likely attracting established professionals, multi-generational families, or buyers with a vision for extensive gardens, pools, or additions where lot size is the ultimate luxury.
Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value of $1.27M is a strong indicator of the property's premium standing, placing it in the top 6% on its street and top 1% city-wide. Market value is determined by current buyer demand, but this assessment firmly positions the home in an elite tier, often reflecting factors like lot size, location, and construction quality that command a premium.
2. Is the living area efficient for a home of this assessed value?
At 1,984 sqft, the living area is above average but not the largest in the immediate area. The premium is driven significantly by the massive, city-rare lot (top 1%) and the prestigious location. Buyers are paying for land value and location as much as, if not more than, pure square footage.
3. What does the "around average" neighborhood ranking for living area imply?
While the home is spacious by street and city standards, it is typical for the specific Victoria Crescent neighborhood, where homes are generally larger. This means you are buying into an area of consistently substantial homes, which helps maintain property values and character.
4. The home was built in 1973. Should I be concerned about major updates?
Being newer than most on its street (top 12%) is a positive, suggesting potentially fewer legacy issues than much older homes. However, as a 50-year-old property, the condition and updates of major systems (roof, windows, HVAC, electrical) will be crucial inspection points, as this era can vary greatly in its level of modernization.
5. How should I interpret the lot size being "around average" for the neighborhood but "elite" city-wide?
This highlights the exclusive nature of the Victoria Crescent area, where large lots are more common. You are getting a property that is perfectly in scale with its prestigious surroundings, yet that same lot is an extraordinary rarity in the broader Winnipeg market, a key factor for long-term value and appeal.