Property Overview: 742 South Drive, Crescent Park, Winnipeg
Section 1: Key Characteristics & Appeal
This is a property defined by space and potential. The primary draw is its exceptionally large 27,000 sqft lot, which places it in the top 1% of properties city-wide for land area. This offers rare privacy and scope for gardens, recreation, or future expansion in a mature, established neighbourhood. The home itself is a spacious 3,220 sqft one-storey, built in 1946, offering ample living area that ranks well above average for both the street and the city.
Its appeal lies in a unique combination: the lot provides a premium, almost rural sense of space within the city, while the house presents a solid, spacious canvas. The property suits a specific buyer: someone with a vision for renovation or customization who values the irreplaceable asset of land over a move-in-ready finish. It’s ideal for a family seeking room to grow outdoors, a multi-generational household needing separate spaces, or a buyer who sees the long-term value in updating a character home on a spectacular lot. The detached garage and full (though unrenovated) basement add to the functional potential.
A thoughtful perspective: while the home’s age and condition require investment, its assessed value is notably higher than its last sale price in 2016, suggesting the market recognizes the underlying value of the land and structure. This isn't a typical cosmetic flip; it's a legacy property for a buyer planning a long-term transformation.
Section 2: Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It indicates the basement is undeveloped or in its original state. Expect a functional space for utilities and storage, but not finished living areas like a rec room or bedroom. This represents both a cost consideration and an opportunity to customize the space to your needs.
2. How significant is the lot size practically?
At over half an acre, it's substantial. Beyond gardening, it allows for features like a large workshop, sport court, or significant landscaping projects that aren't possible on standard city lots. It also provides a notable buffer from neighbours and street noise.
3. The home is older. What should I budget for?
While systems and structure can vary, a home from 1946 will likely require updates to roofing, plumbing, electrical, and insulation to modern standards. A thorough inspection is essential to budget for these priorities alongside any desired cosmetic renovations.
4. The last sale price seems low compared to the current assessment. Why?
The property sold in 2016 for $87,500, while its current assessed value is $1.06M. This large gap reflects significant market appreciation over eight years, particularly for land, and possibly substantial improvements made by the current owner that increased the taxable value.
5. Who handles snow removal and maintenance on such a large property?
The homeowner is responsible for all maintenance of the private lot, including driveway snow clearing and lawn care. The scale of the land means factoring in higher costs for these services or the time/equipment needed to do it yourself.