Property Overview
This two-storey home at 1141 Mcmillan Avenue in Winnipeg's Crescentwood neighbourhood presents a specific and compelling value proposition. Its key characteristics create a distinct profile that will resonate with certain buyers more than others.
Key Characteristics & Buyer Appeal
The home’s primary appeal lies in its location within a desirable, established area, paired with a relatively accessible price point for the neighbourhood. At 1,265 sqft with a renovated basement, it offers functional space but is notably smaller than most Crescentwood homes, placing it in the bottom 15% for living area locally. This suggests a more manageable footprint for downsizers, small families, or first-time buyers seeking entry into the area.
A significant characteristic is the lot size. At 4,860 sqft, the property sits on a larger-than-average parcel for Mcmillan Avenue (top 21%), offering valuable outdoor space and potential in a streetscape of typically smaller lots. The 1946 build date makes it a newer construction compared to many historic homes in Crescentwood, which may appeal to those wanting some classic charm with potentially fewer concerns associated with pre-war infrastructure.
The assessed value of $330k is below the Crescentwood average, indicating a comparative value opportunity. This home would best suit buyers who prioritize location and land size over sheer interior square footage. It’s a practical choice for those wanting to plant roots in Crescentwood without the premium for a larger, fully renovated character home, and who see value in the lot's future potential.
Frequently Asked Questions
1. How does the size of this home compare to others in Crescentwood?
It is significantly smaller than the neighbourhood average. Most comparable homes in Crescentwood are around 2,353 sqft, making this property more compact and manageable.
2. Is the lot size a positive feature?
Yes, particularly for the specific street. The lot is larger than most on Mcmillan Avenue, offering more private outdoor space than you might expect from the home's modest interior size.
3. What does the 1946 build year mean for a buyer?
In the context of Crescentwood, where many homes are from the early 1900s, a 1946 build is relatively newer. It may incorporate some modern building materials and layouts compared to its neighbours, while still offering established neighbourhood character.
4. How does the assessed value relate to the recent sale price?
The home sold for $34,300 in September 2024. This is dramatically lower than the $330k assessed value, strongly indicating a non-arms-length transaction (such as between family members) and is not reflective of the property's market value. The assessed value is the more relevant figure for market comparison.
5. Who would this property not suit?
Buyers needing substantial above-grade living space, or those seeking a move-in-ready home with modern, open-concept layouts typical of newer builds, may find it too compact or in need of updates. Its appeal is geared toward location-focused buyers comfortable with a cozier footprint.