Property Overview & Key Characteristics
This is a compact, one-storey home built in 1954 on a mature lot in Crescent Park. Its primary appeal lies in its renovated basement and its position as a more affordable entry point into a well-established neighbourhood. The home itself is modest in size at 936 sqft, placing it below average for both the street and the area, which suggests a cozy, low-maintenance footprint. The lot size is also smaller than most in Crescent Park, but this translates to less yard upkeep. A thoughtful perspective is that this property represents a classic "value play"—it allows a buyer to secure a location in a desirable area while investing primarily in the structure and its potential, rather than paying a premium for extensive land. It would suit first-time buyers, downsizers looking to simplify, or practical investors seeking a renovate-and-hold rental property in a stable area.
Frequently Asked Questions
1. Is the home in move-in condition?
While specific interior condition isn't detailed, the listing confirms a renovated basement, suggesting key updates have been made. The main living area's smaller size and vintage (1954) indicate that the main floor may benefit from modernization to suit contemporary tastes.
2. How does the property's value compare to the area?
The home's assessed value is below the average for both Crescent Drive and the broader Crescent Park neighbourhood. This lower valuation is consistent with its below-average living and land area, indicating it is priced as a more accessible option within the area.
3. What are the implications of having no garage?
The lack of a garage is a trade-off for the property's affordability. Buyers should factor in the cost and feasibility of adding off-street parking or a storage shed, and consider on-street parking availability, especially during Winnipeg winters.
4. The lot is smaller than area averages. Is that a disadvantage?
It depends on your priorities. A smaller lot means less private outdoor space and garden potential, but it also requires significantly less maintenance, time, and expense—a notable advantage for those seeking a simpler lifestyle or who prefer to spend their time elsewhere.
5. Why was the last sale price in 2018 so much lower than the assessed value?
The 2018 sale price of $28.3k was likely for the land value only, or for the property in a pre-renovation state. The current assessed value of $35.1k reflects the property post-basement renovation and general market changes, though it remains a value-oriented assessment for the area.