Property Overview: 33 Riley Crescent, Crescent Park, Winnipeg
Key Characteristics & Appeal
This is a classic, single-storey home built in 1953, situated on a generous lot in the established Crescent Park neighbourhood. Its key features include a renovated basement and a detached garage. The property's primary appeal lies in its balance and solid fundamentals within a desirable area. The lot size is notably spacious for the immediate street, offering room for gardening, play, or expansion. While the living space is modest, the renovated basement adds valuable functional square footage.
The home represents a grounded opportunity. It’s not the newest or largest on the block, but it sits comfortably above average in the wider city context for value and land. It recently sold for a price well above the street average, indicating strong buyer confidence in the location and property potential. This home would suit a first-time buyer or downsizer looking for a manageable footprint without sacrificing outdoor space, or an investor seeking a stable property in a mature neighbourhood with proven resale appeal.
Frequently Asked Questions
1. How does the lot size compare to others?
The lot is approximately 5,500 square feet, which is larger than many on Riley Crescent itself. It provides a tangible advantage over typical city lots, offering more privacy and usable outdoor space.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. This would be a key point for a home inspection to determine the quality of finishes, any moisture management, and the legality of any secondary suites.
3. The home sold recently. What does that mean for its value?
The property sold in July 2024 for $50,500, which ranked in the top 4% for sale prices on its street. This recent transaction provides a clear, up-to-date market value benchmark, suggesting buyers were willing to pay a premium for this specific home.
4. Is the detached garage a standard feature?
In older neighbourhoods, a detached garage is common. It offers flexibility but may require navigating between the house and garage in winter. Its condition and size should be verified during a viewing.
5. The assessed value seems low. Why is that?
The municipal assessed value for tax purposes ($39,900) is often significantly lower than market value, as seen by the recent sale price. Assessments are for taxation, not appraisal, and market conditions can change rapidly between assessment periods.