74 Riley Crescent

Property Overview: 74 Riley Crescent, Crescent Park, Winnipeg

Key Characteristics & Appeal

This is a well-maintained, one-storey home built in 1954, situated on a quiet crescent. Its primary appeal lies in its balance of established character and practical updates, most notably a renovated basement that adds valuable finished space to the 1,117 sqft main living area. The lot size of 5,063 sqft is notably smaller than most in the immediate Crescent Park neighbourhood, which presents a lower-maintenance yard but less private space than surrounding properties.

The home suits first-time buyers or downsizers looking for a solid, move-in-ready property in a mature area without the upkeep of a larger lot. Its assessed value is positioned below the neighbourhood average, suggesting a potentially accessible entry point into the area. A thoughtful perspective is that while the lot is smaller relative to the street, it is close to the city-wide average, offering a more manageable outdoor space for those who prefer gardening or landscaping on a simpler scale. The home’s age places it as one of the older homes on its specific street, indicating a well-established streetscape with mature greenery.

Frequently Asked Questions

1. Is the smaller lot size a disadvantage?
It depends on your priorities. It means less yard maintenance and lower property taxes relative to larger lots in the area, but also less space for additions, large gardens, or extensive outdoor recreation.

2. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or rooms. A buyer should inquire about the renovation's scope, permits, moisture control, and whether it includes a bedroom, bathroom, or simply finished living space.

3. How does the assessed value relate to the likely sale price?
The home last sold for $35,500 in late 2022 and is currently assessed at $38,600. In Winnipeg, assessed value is for municipal tax purposes and is not a direct indicator of market value. The sale price will be determined by current market conditions, the home's condition, and buyer demand.

4. There's no garage. Is street parking readily available?
The listing shows no garage. As it's on a quiet crescent, street parking is likely available, but it's important to verify if there are any restrictions, the availability of a dedicated driveway, or the potential to add a parking pad.

5. The home is older. What should I check regarding systems and structure?
Built in 1954, potential buyers should pay special attention to the age and condition of major systems: the roof, plumbing, electrical (especially if it hasn't been updated from original wiring), and the foundation. A thorough home inspection is highly recommended.