740 South Drive

Property Overview: 740 South Drive, Crescent Park, Winnipeg

Key Characteristics & Appeal

This property is defined by its exceptional land size and prestigious location. Sitting on a 27,000 sqft lot, the land is not only vast for the city—ranking in the top 1% in Winnipeg—but also significantly larger than most properties on its own street and in the desirable Crescent Park area. This offers rare potential for privacy, landscaping, expansion, or future development, subject to zoning.

The home’s assessed value places it among the elite in the broader market, suggesting a substantial and well-regarded structure. It sold for $1.3M in July 2023, a price point that reflects its premium positioning. The appeal lies in a combination of a prime, established neighbourhood and the unique value of a massive, urban lot. It suits buyers looking for a long-term family estate in a top-tier area, those who value outdoor space and privacy above all, or investors/builders interested in the land’s inherent potential. It’s less suited for those seeking a turnkey, low-maintenance property without a vision for utilizing or stewarding such a significant parcel of land.

Frequently Asked Questions

1. What does the "Elite" ranking for land area actually mean?
It means the property's lot size is larger than 99% of all residential properties in Winnipeg, placing it in the top 1%. Within the Crescent Park neighbourhood itself, it ranks 11th largest out of 781 properties.

2. The assessed value is $810k, but it sold for $1.3M. Why the large difference?
Assessed value is for municipal tax purposes and often lags behind the current market, especially in a dynamic segment. The sale price is a direct reflection of what a buyer was willing to pay based on the home's condition, the land's premium value, and market conditions at that time.

3. Is the large lot more of a benefit or a burden?
This depends on the buyer. It's a major benefit for privacy, gardening, recreation, or future expansion. However, it also means higher property taxes (based on value) and significantly more responsibility for maintenance, landscaping, and snow removal compared to a standard city lot.

4. What is the neighbourhood (Crescent Park) like?
The data indicates it's an elite, established area. The high comparative assessed values suggest it's a neighbourhood of substantial, well-maintained homes. The very large average lot size for the area (7,902 sqft) confirms it's known for spacious, private properties.

5. Are there any apparent drawbacks from the available data?
The listing notes there is no garage, which could be a consideration for some buyers. Additionally, while the land is a huge asset, the home itself may require updates or investment, as the sale premium likely centered on location and lot potential. The sheer scale of the property demands a commitment to upkeep.