Property Overview: 114 Bernadine Crescent, Winnipeg
Key Characteristics & Appeal
This two-storey home on 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 1,120 sqft main footprint. The property sits on a 3,900 sqft lot, which is modest for the area but contributes to lower maintenance. Its appeal lies in its positioning as an affordable entry point into the Winnipeg market, particularly for a home with recent updates below grade. The sale price of $28,500 is notably below both neighbourhood and city-wide averages, indicating a focus on land and structure value rather than premium finishes.
This home would suit first-time buyers, investors, or downsizers seeking a straightforward, low-cost property with some modernization already started. A thoughtful perspective is that while the lot size is below average for the immediate street, the home's living area is actually above average among its closest neighbours, suggesting a efficient use of space. The below-average assessed value relative to the area could signal an opportunity for equity growth through further improvements, but buyers should be prepared for a home that likely requires attention to the main and upper floors to match the renovated basement.
Frequently Asked Questions
1. What does "renovated basement" typically mean in a home at this price point?
It indicates functional improvements have been made, such as updated flooring, drywall, and possibly a living area or bedroom. Buyers should verify the scope, permits, and the condition of the rest of the home, as investment may have been focused primarily on this one area.
2. How significant is the smaller lot size?
At 3,900 sqft, the yard is manageable with less upkeep, which can be a benefit. However, it offers less private outdoor space and potential for expansion than larger lots in Buchanan. It's a trade-off that contributes to the accessible price.
3. Why is the sale price so much lower than the city-wide average assessed value mentioned?
The city-wide average assessment figure in the data appears to be an outlier (noted as $390k vs. neighbourhood averages around $32k). Disregard that figure; the relevant data shows the sale price was slightly above its assessed value and is competitive within the immediate area.
4. What is the neighbourhood of Buchanan like?
Buchanan is a mature, established neighbourhood in Winnipeg. Properties here often attract those looking for community familiarity and convenience, typically without the premium price tag of newer suburban developments.
5. Are there any major concerns with a home built in 1971?
As with any home over 50 years old, the critical systems (roof, wiring, plumbing, windows) should be carefully evaluated. Its age is typical for the street, but an inspection is essential to understand what updates, beyond the basement, are needed.