Property Overview & Key Characteristics
This one-storey home at 81 Addison Crescent in Winnipeg's Westwood neighbourhood presents a practical, no-frills opportunity. Built in 1963, its key appeal lies in its solid foundation and recent updates. The 1,220 sqft living space sits on a larger-than-average lot (over 5,600 sqft), offering valuable outdoor space in a mature area. A significant feature is the renovated basement, which adds functional living area. The home lacks a garage, which is a trade-off for its price point.
Its primary appeal is value and potential. It recently sold for a price significantly above its assessed value, suggesting buyers saw immediate value in its condition or the lot itself. It would suit first-time buyers looking for an entry point into a stable neighbourhood, practical homeowners who value space over luxury finishes, or investors seeking a property with a strong land component. The rankings show it's a mid-pack home in its immediate area but offers more living and land space than many in the wider city, positioning it as a sensible, grounded choice.
Frequently Asked Questions
1. Why is the recent sale price so much higher than the assessed value?
This is common when a property has seen significant improvements not yet fully reflected in the assessment, or when market demand for the location is strong. The renovated basement likely contributed to the higher sale price.
2. What are the implications of not having a garage?
It means lower maintenance and costs, but requires planning for vehicle parking and storage. The large lot does offer potential for adding a garage or shed in the future, subject to local bylaws.
3. How does the lot size compare to others?
At 5,634 sqft, the lot is notably larger than many in Winnipeg. This ranks it in the top 40% city-wide, offering more private outdoor space than typical for the price range.
4. What is the neighbourhood like?
Westwood is a long-established, mature neighbourhood. The home's rankings show it is fairly typical for the area in terms of age and size, suggesting a consistent, stable streetscape without extreme highs or lows.
5. Who might this property not suit?
Buyers seeking a modern, turn-key home or those who require substantial indoor parking (like for multiple vehicles or a workshop) may find it lacking. It's best viewed as a solid foundation to build upon.