Property Overview: 2603 Assiniboine Crescent
Key Characteristics, Appeal & Ideal Buyer
This is a well-situated, classic one-storey home in Winnipeg's Birchwood neighbourhood, built in 1920. Its primary appeal lies in its generous 7,710 sqft lot, which places it in the top tier for land size both on its street and within the wider area. This offers significant space for gardening, recreation, or future expansion. The home itself features a renovated basement, adding valuable modernized living space, and a detached garage.
The property presents a compelling profile for specific buyers. It suits a practical buyer or investor who values land size over a newer build, seeing the lot as the primary long-term asset. It's also well-matched for those seeking a home in established Birchwood with room to grow, who are comfortable with the character and potential maintenance considerations of a century-old structure. The assessed value is notably conservative compared to the lot size and recent area sales, which may appeal to buyers attentive to municipal valuation versus market potential. A less obvious perspective is its appeal to a buyer looking for a "blank canvas" property; the large lot combined with a modest, older home creates an opportunity to eventually build a new primary residence while utilizing the existing house or garage in the interim.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on the scope, finish quality, and whether it includes legal secondary suite potential are not provided. This would be a key point for verification during a viewing.
2. How does the 1920 build year affect the home?
While the lot is a major asset, a 106-year-old home will likely have older building systems (like plumbing, electrical, and the foundation). Prospective buyers should budget for thorough inspections and potential updates to complement the renovated basement.
3. The last sale was in 2016 for $25.5k. What does that indicate?
That sale price is exceptionally low and ranks at the very bottom of the street's history. This typically indicates a non-arms-length transaction, such as a transfer between family members, and is not reflective of the property's market value at that time or today.
4. The assessed value is $44.7k, but what is the likely listing/sale price?
Municipal assessed value for tax purposes is often significantly lower than market value, especially for older homes on large lots. The sale price will be determined by current market conditions, the property's unique lot size, and the home's condition.
5. Why are the "rankings" for Year Built so low?
The rankings compare this 1920 home against all other properties. A "Top 12%" rank in Winnipeg for year built means 88% of homes in the city are newer. This simply quantifies that it is an older home in the broader market context, which is reflected in its price point and appeal.