Property Summary: 27 Crestwood Crescent
Section 1: Key Characteristics & Buyer Profile
This property offers a clear trade-off between indoor and outdoor space. The home itself is 776 square feet, which places it on the smaller side compared to typical homes on its street, in the Windsor Park neighbourhood, and across Winnipeg. It ranks in the bottom 8% for living space citywide. However, the lot is the standout feature. At 9,859 square feet, it ranks in the top 1% on Crestwood Crescent and the top 2% in the area, making it one of the largest lots in the immediate vicinity. The house was built in 1959, which is consistent with the neighbourhood’s age.
The appeal lies in the land value rather than the square footage. For someone looking for outdoor space, gardening, room for additions, or a large yard in a central neighbourhood, this property presents an opportunity that is rare within its price range. The assessed value sits at $368,000, which is slightly above the street average but below the citywide average of $390,000, reinforcing that the price is tied to the land.
This property would suit a buyer who is comfortable with a smaller living space or who plans to renovate, expand, or rebuild. It is less suited for someone who prioritises move-in-ready interior space or a large home without major changes.
Section 2: Five Possible FAQs
1. Why is the living space so much smaller than the lot would suggest?
The home was built in 1959, a time when homes in Windsor Park were often more modest in size. The house itself hasn’t been expanded, while many neighbouring homes have been renovated or replaced with larger structures. The lot, however, was likely part of an original larger parcel, which explains the discrepancy.
2. Does the assessed value reflect the land or the house more?
In this case, the valuation is likely weighted more toward the land than the structure. The lot size (9,859 sqft) places it in the top 6% citywide, while the home’s square footage is in the bottom 8%. This suggests the assessed price is driven by the land’s scarcity and location, not the house’s condition or size.
3. Is the property a good candidate for a tear-down or major renovation?
Given the ratio of lot size to house size, it is a strong candidate for either option. A teardown would allow a new build to capitalise on the large lot in a desirable street. A major addition could also be feasible, depending on zoning and setback requirements. Buyers should confirm local regulations before planning.
4. How does the street compare to the wider neighbourhood?
Crestwood Crescent itself has slightly higher average assessed values than the broader Windsor Park area, and the lot sizes are generally larger. This property sits well above the street average for land area but below it for living space, making it an outlier on an otherwise relatively consistent street.
5. What should someone expect from the home’s condition?
No condition details are provided here, but given the 1959 build date and low living-space ranking, the home likely retains many of its original features or has had minimal updates. A buyer should expect to budget for updates to mechanicals, insulation, and finishes, regardless of the property’s overall structural soundness.