Property Overview: 132 Riley Crescent, Crescent Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Riley Crescent presents a compelling mix of space, value, and location. Its key characteristic is a generous, above-average lot of nearly 7,000 sqft, offering significant outdoor space that is increasingly rare, especially within the city. While the living area (981 sqft) is modest compared to local averages, the property benefits from a renovated basement, adding functional space. Built in 1953, it is typical for the neighbourhood.
The appeal lies in its strong value proposition and potential. The home’s assessed value ranks well above average for its immediate street and area, suggesting it is a solid asset within Crescent Park. This, combined with the large lot, positions it as a property with good underlying value relative to its peers. It’s suited for first-time buyers or downsizers seeking a manageable single-level layout in an established area, and for value-oriented buyers who see potential in the ample yard for gardening, expansion, or future enjoyment. It’s a home that offers more land than typical, providing a sense of space and possibility without a premium city-wide price tag.
Section 2: Frequently Asked Questions
1. Is the house smaller than others in the area?
Yes, the living space is below the average for both Riley Crescent and the broader Crescent Park area. However, this is balanced by the renovated basement and the significantly larger-than-average lot size.
2. What does the high assessed value ranking mean?
The home’s assessed value is in the top 7% on its street and top 24% in Crescent Park. This indicates that, for tax purposes, it is valued more highly than many comparable homes nearby, often reflecting lot size, improvements, or market positioning in a desirable location.
3. How does the recent sale price relate to the assessed value?
The property sold for $47.20k in November 2024, which is close to its $45.10k assessed value. This suggests the sale was aligned with its official valuation, a point of interest for buyers comparing market price to municipal assessment.
4. Is the large lot a common feature here?
The lot is above average for the street and city-wide, but is around the median size within the wider Crescent Park area. This means you get a sizable yard for the specific location, which may be a standout feature on that block.
5. What is the neighbourhood like for a 1950s home?
Crescent Park is an established neighbourhood with homes from a similar era. The year built (1953) is very typical, meaning you can expect similar architectural styles and mature landscaping throughout the area, contributing to a consistent streetscape.