Property Overview
This bi-level home at 201 Allenby Crescent in Winnipeg's Canterbury Park neighbourhood presents a unique opportunity. Built in 1974, it sits on a generous 5,387 sqft lot, which is notably larger than most in its immediate area. The home itself has a modest 733 sqft of living space and features a renovated basement and a detached garage. It recently sold for $37,500.
Key Features & Ideal Buyer
The primary appeal of this property lies in its land value and potential. The lot size is in the top 11% for Allenby Crescent, offering ample outdoor space that is uncommon for the street. While the living area is compact, the inclusion of a renovated basement adds functional space. The recent sale price is significantly below the city's average assessed value for homes, suggesting it may be a project property or a land-value purchase.
This home would suit a specific type of buyer: an investor, a builder, or a handy individual looking for a starter home with renovation or redevelopment potential. Its appeal is less about the current structure and more about the possibilities offered by the sizable lot in an established neighbourhood. It is not ideally suited for someone seeking a move-in-ready, spacious family home.
Frequently Asked Questions
1. Why is the sale price so much lower than typical Winnipeg home prices?
The sale price reflects the property's specific characteristics, primarily its modest living area and likely the need for updates or significant renovation. The price aligns more closely with the value of the land and the potential it holds rather than the current structure.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not provide specifics on the scope, quality, or permits. A prospective buyer would need to investigate the finishes, moisture control, and whether any structural or mechanical updates were included.
3. Is this a good investment property?
Given the low entry price and large lot size, it could be a strategic investment for future redevelopment (like building a new home) or as a rental after renovation. However, investment viability depends entirely on renovation costs, local market rents, and area development plans.
4. How does the small living area (733 sqft) compare to nearby homes?
The data shows this home's living area is below average for its street, neighbourhood, and city-wide. Neighbouring homes on Allenby Crescent average about 951 sqft, making this one of the more compact offerings on the block.
5. The Year Built is ranked "Elite" on its street but "below average" for Canterbury Park. What does this mean?
This indicates the homes on Allenby Crescent are generally older than those in the wider Canterbury Park area. While this home (1974) is newer than most on its specific street, it is older than the average home in the broader neighbourhood, which has an average build year around 1997.