Property Overview: 960 Crescent Drive, Crescent Park, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1952 on a standard city lot in Winnipeg's Crescent Park neighbourhood. Its primary appeal lies in its position as an entry-point property or a strategic land investment. The 720 sqft living area is notably modest, ranking in the bottom 5-7% for size both locally and citywide, indicating a true starter home or cottage-style footprint. The lot size of 4,399 sqft is typical for the area, offering manageable outdoor space.
The home’s most defining characteristic is its exceptionally low municipal assessed value ($23,700), which places it in the bottom 2% of its immediate street and neighbourhood. This, combined with its last known sale price of $16,200 in 2018, suggests the property may be suited for a value-added project or is being priced for its land value. It has no basement, pool, or garage.
This property would best suit a specific type of buyer: a hands-on first-time buyer looking for a minimal footprint to renovate, an investor considering a potential teardown and rebuild (subject to zoning), or someone seeking a lower-cost entry into the Crescent Park area, prioritizing location over the current condition or size of the dwelling. Its value proposition is fundamentally about opportunity over immediate move-in readiness.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
Municipal assessments are based on a mass appraisal system considering factors like property size, age, and recent sales. This home's very small living area and older age contribute to its low assessment, reflecting its current state rather than potential market price.
2. What does "no basement" mean for this property?
It indicates the home is built on a slab foundation or crawl space. This affects utility access, storage options, and potential for below-ground living space. For some, it simplifies maintenance and eliminates flood risk, but it also limits expansion possibilities.
3. The home last sold for $16,200 in 2018. Does that dictate its current price?
No, a past sale price, especially from several years ago, does not set the current market value. It does, however, highlight a history of being a very low-value transaction, which buyers and lenders will scrutinize. The current listing price will be based on today's market conditions.
4. Given the small size, what are the possibilities for expanding the living space?
Any expansion would require a review of local zoning bylaws for setbacks and floor-area ratios. Given the lot size, there may be potential to build an addition or, subject to all approvals, replace the existing structure. The feasibility and cost would need professional evaluation.
5. How should I interpret the ranking metrics (e.g., "Top 93%")?
These percentiles show how this property compares to a group of "comparable homes." For example, "Top 93%" for living area means the home's square footage is greater than only 7% of the comparison group—so it's in the bottom 7% for size. It's a relative measure of where it stands within a specific peer set.