Property Overview: 245 Risbey Crescent, Winnipeg
Section 1: Key Characteristics & Appeal
This 1973 bi-level home in the Buchanan neighbourhood presents a straightforward, entry-level opportunity. Its key characteristic is its compact scale, with a living area of 792 sqft that is notably smaller than most area homes, situated on a modest 3,618 sqft lot. The appeal lies in its recent sale at a very accessible price point ($30,700), its renovated basement, and its above-average ranking for year built on its street, suggesting it is among the newer homes in its immediate area. It suits buyers seeking an affordable foothold in the market, perhaps first-time buyers, downsizers, or investors looking for a low-cost rental property. A thoughtful perspective is that its smaller size and lower taxes could align well with a minimalist or efficient lifestyle, while the renovated basement offers immediate functional space without upfront project costs. It’s a practical choice over a aspirational one.
Section 2: Frequently Asked Questions
1. Is the house unusually small?
Yes. The data shows its living area ranks in the bottom 2-9% compared to homes on its street, in Buchanan, and across Winnipeg, making it a compact property.
2. What does the "renovated basement" include?
The provided details confirm the basement is renovated but do not specify the scope or finishes. This would require clarification from the listing agent or a viewing.
3. How does the lot size compare?
The land area is also below average for the area, ranking in the bottom 6-7% locally. This means smaller outdoor space but potentially less maintenance.
4. Why is the assessed value so much lower than the city-wide average?
The assessed value (~$25.8k) reflects the property's compact size and modest characteristics relative to the broader Winnipeg market, where the average home is larger and has a higher assessed value.
5. Does its age mean it will need major updates?
Built in 1973, it is actually newer than many comparable homes on its street and in Buchanan. While systems may still be due for age-related updates, it has a relative age advantage in its immediate context.