Property Overview
This 1931 two-and-a-half storey home on South Drive in Winnipeg's Crescent Park neighbourhood offers a distinct blend of historic character and generous space. Its primary appeal lies in its substantial 3,037 sqft living area and 18,500 sqft lot, which place it among the elite 1-4% of homes city-wide for size. While the home itself is notably older than most in the area, it features a renovated basement, a detached garage, and a pool. The assessed value of $1.05M is considered elite city-wide but is around average for prestigious South Drive itself, suggesting the value is anchored more in the location and land than in the modern condition of the structure.
This property would best suit a buyer looking for a project within an established, high-status neighbourhood—someone who values the potential of a large, private lot and spacious floor plan over move-in-ready modern finishes. It’s a solid candidate for those interested in gradual renovation or who appreciate the architectural character of a 95-year-old home. The pool and expansive grounds also make it a fit for families or entertainers who prioritize private outdoor space.
Frequently Asked Questions
1. Is the price justified given the home's age?
The data suggests the value is driven significantly by its elite lot and living space within a top-tier neighbourhood. You are paying a premium for location and land size, with the understanding that the 1931 structure may require updates.
2. What does the "renovated basement" entail?
The listing notes a renovated basement, but specifics on the scope, quality, and permits should be verified through a viewing and inspection. It's an important feature to clarify given the home's overall age.
3. How does the assessed value compare to the last sale price?
The home was last sold in September 2016 for $81,500. The current $1.05M assessment reflects a substantial increase, indicative of both market changes and the property's standing within this desirable area.
4. What are the ongoing costs like for a home of this vintage?
While offering great space, a 95-year-old home typically comes with higher maintenance and utility costs than a modern build. Budgeting for potential updates to systems like plumbing, electrical, or windows is prudent.
5. The lot is large, but how is it configured?
At 18,500 sqft, the lot is a major asset. A buyer should assess its layout, sun exposure, and how the existing pool and garage are situated to understand its full potential for gardening, expansion, or recreation.