Property Overview: 113 Bernadine Crescent, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 113 Bernadine Crescent in the Buchanan neighbourhood presents a practical and value-conscious opportunity. Built in 1971, its key feature is a renovated basement, adding functional living space to the 867 sqft main floor. The property sits on a 4,272 sqft lot, which is a manageable size for maintenance while offering decent outdoor space.
The primary appeal lies in its recent and significant value increase, having sold for $300,000 in late 2024—a stark contrast to its 2019 sale price of $22,700. This suggests the area is undergoing positive change or the property itself has seen considerable improvement. While the living space is modest compared to area averages, the renovated basement helps offset this, creating a more versatile layout. The lack of a garage is a trade-off for the lower price point.
This home would suit first-time buyers seeking an entry point into the market, practical investors looking for a property with clear, recent appreciation, or downsizers who value a renovated, low-maintenance living space without a large yard or excessive square footage to manage. It offers a foothold in a neighbourhood where property values appear to be rising.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" likely include?
While specifics aren't listed, a renovation in this context typically means the basement has been finished into livable space, possibly as a family room, additional bedrooms, or a recreational area. It’s a key feature that adds functional square footage to the home.
2. How does the lot size compare to others?
The lot is just under half an acre (4,272 sqft). It's smaller than the average lot in both Buchanan and Winnipeg overall, but is very typical for its specific street. This means less yard work but also less private outdoor space than some neighbouring properties.
3. Why was there such a large jump in sale price between 2019 and 2024?
The 2019 sale price of $22,700 is unusually low and may have been a non-arms-length transaction, a sale of the land only, or a property in severe disrepair. The 2024 sale at $300,000 is the meaningful, current market value, likely reflecting the renovated condition and area trends.
4. What does the assessed value tell us?
The assessed value for tax purposes ($27.60k) is not an indicator of market value. It is significantly lower than the sale price, which is common. The rankings show this assessment is fairly typical for the immediate area, suggesting property taxes should be in line with neighbouring homes.
5. Is the living space too small?
At 867 sqft for the main living area (plus the renovated basement), it is notably smaller than average for the city. This makes it a compact, efficient home. The bi-level design and finished basement help maximize the use of space, but buyers who need multiple large rooms or open-concept living may find it limiting.