Property Overview: 1045 McMillan Avenue, Crescentwood
Key Characteristics & Appeal
This is a classic two-and-a-half storey home built in 1913, situated on a mature, established street in the desirable Crescentwood neighbourhood. With 1,845 sqft of living space, it offers a comfortable size that is above average for Winnipeg overall but presents a more manageable footprint compared to some larger historic homes in the area. Its assessed value positions it as a relatively accessible entry point into Crescentwood, a neighbourhood known for its character, tree-lined streets, and proximity to amenities like parks, schools, and Corydon Avenue.
The home’s appeal lies in its location and potential. It suits a buyer looking for a character home in a prime neighbourhood without the premium price tag of a fully renovated or oversized property. The existing basement and detached garage offer functional space, though the basement is noted as not being renovated. This property would be well-suited for a pragmatic buyer—perhaps a young family seeking community and character, or an investor—who values location over turn-key perfection and is prepared to take on updates over time. A thoughtful perspective is that its smaller lot size (3,638 sqft) for the area means less yard maintenance, which can be a practical advantage for some lifestyles, while still providing outdoor space.
Frequently Asked Questions
1. How does the sale price from 2023 relate to the current assessed value?
The home sold for $43,500 in July 2023, which is close to its current assessed value of $40,200. This suggests the assessment is closely aligned with a recent market transaction.
2. What does "basement, not renovated" typically imply?
This usually indicates the basement is in original or functional condition, but not modernized as finished living space. Buyers should budget for potential updates and consider it valuable for storage, utilities, and future development.
3. Is the living space sufficient for a family?
At 1,845 sqft, it is above the city-wide average. The layout of a historic home will be the key factor. It likely provides adequate room for a family, but may have a different flow than a modern open-concept build.
4. Why is the assessed value considered "below average" for Crescentwood specifically?
Crescentwood contains many larger, high-value heritage properties. This home’ more modest size and unrenovated state place it in a lower value tier within the neighbourhood, which is what creates this buying opportunity.
5. What are the implications of a detached garage?
A detached garage offers flexibility and can reduce noise from vehicles entering/exiting. However, it is less convenient in winter months compared to an attached garage. It may also present potential for alternative uses (e.g., workshop) subject to local bylaws.