Property Overview: 30 Pheasant Street, Crescent Park, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Crescent Park offers a practical and value-oriented opportunity. Its key features include a renovated basement and a detached garage on a generous 6,434 sqft lot, which is notably larger than the Winnipeg city average. Built in 1956, the home is older than many on its street and in the neighbourhood, suggesting a classic layout with potential for updates. The living space is modest at 1,124 sqft, making it a cozy and manageable footprint.
The primary appeal lies in its land value and location. The lot size is a significant asset, offering ample outdoor space for gardening, play, or expansion in a mature area. The recent basement renovation adds immediate functional living space. This property would suit first-time buyers seeking an entry point into a stable neighbourhood, practical homeowners who prioritize yard space over a large house, or investors looking for a property with strong land value and rental potential through its basement suite. It’s a home that offers more outside than inside, appealing to those who see value in the long-term potential of the land itself.
Section 2: Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify if it is a legal, secondary suite. This is a crucial point to verify with the seller and the local municipality, as it impacts rental potential and insurance.
2. How does the sale price compare to the assessed value?
The home last sold for $350,000 in 2022, which is significantly higher than its current assessed value of $39,200. This large discrepancy is normal; municipal assessed value for taxation is not a market appraisal. Buyers should focus on recent comparable sales in Crescent Park to determine current market value.
3. What is the condition of the main house given the age and basement renovation?
With the basement recently updated, attention may shift to the condition of the original 1956 structure. A thorough inspection should focus on the roof, wiring, plumbing, and foundation to understand what major systems may need future investment.
4. How does the lot size compare to nearby properties?
The lot is above average for Winnipeg but around the average for both Pheasant Street and the broader Crescent Park area. This means you get a substantial yard without being an outlier, which is positive for both enjoyment and future resale.
5. What are the implications of the detached garage?
A detached garage offers flexibility (e.g., for a workshop) but means dealing with snow and weather when accessing your vehicle. Consider the cost to potentially upgrade it or add a secure pathway to the house.