Property Overview: 1089 Mcmillan Avenue, Crescentwood, Winnipeg
Key Characteristics & Appeal
This is a classic 1924 one-storey home in the established Crescentwood neighbourhood, sitting on a 3,790 sqft lot. Its primary appeal lies in its location and land value within a desirable area, rather than the size or condition of the dwelling itself. The home is modest, with 1,251 sqft of living space and an unrenovated basement, and it features a detached garage.
The data presents a thoughtful perspective: while the house is smaller and older than many in its immediate area, its assessed value ranks above average both for its street and city-wide. This suggests the value is strongly tied to the lot in a prime neighbourhood. It would suit a buyer looking for a foothold in Crescentwood, potentially as a long-term hold with renovation or redevelopment potential, or for someone seeking a smaller, character home without the premium price of a fully updated property in the same locale. The last sale was in 2017 for $33,500, indicating this may represent a unique value opportunity.
Frequently Asked Questions
1. Is this a teardown property?
While the home itself is modest and the basement is unrenovated, it is a livable, century-old character home. Its value, however, is disproportionately in the land, making it a likely candidate for future significant renovation or redevelopment.
2. How does the assessed value compare to the likely sale price?
The assessed value is $44,400, but this is for taxation purposes and is typically below market value. Comparable area sales and the desirability of Crescentwood would dictate the final sale price.
3. What are the advantages of a smaller lot in this neighbourhood?
A 3,790 sqft lot, while below average for Crescentwood, is still a good size and may offer lower maintenance costs. It can be appealing for those who want the neighbourhood amenities and prestige without the extensive yard work of a larger estate lot.
4. The home is older than most on the street. Is that a concern?
Paradoxically, its 1924 build date is actually newer than the street average, ranking in the top 23%. On Mcmillan Avenue, it's a relatively newer home among many heritage properties.
5. What is the immediate neighbourhood like?
The listing shows five neighbouring properties all on the same block of Mcmillan Avenue, indicating a tight-knit, stable streetscape typical of mature neighbourhoods.