Property Overview & Key Characteristics
This 1913 two-and-a-half storey home in Crescentwood offers a compelling mix of historic charm and generous space. Its primary appeal lies in its significant scale: with over 3,000 sqft of living area, it ranks in the top 1% city-wide for size, providing ample room for a growing family or those who value spacious interiors. The lot is also notably larger than average for both the street and the neighbourhood, offering potential for outdoor enjoyment or future expansion. A key feature is the renovated basement, adding functional, modernized space. While the home's age is above average, this is characteristic of the established, tree-lined Crescentwood area. Recent sale history shows strong appreciation, with the 2022 sale price placing it in the top 3% of Winnipeg, indicating its perceived value in a desirable location.
This property would best suit buyers looking for a substantial character home in a premier neighbourhood, who have the vision to appreciate its vintage architecture and the means to potentially update its systems. It's ideal for those prioritizing interior and exterior space over newer construction and who understand the nuances of maintaining a century-old home. A thoughtful perspective is that while the assessed value is relatively low, the recent sale price reflects the premium the market places on this combination of location, lot size, and living area.
Frequently Asked Questions
1. Is the low assessed value a concern?
No, it's not uncommon for older character homes. The assessed value is for municipal tax purposes, while the market value—evident in the 2022 sale of $740k—is determined by recent sales of comparable properties, location, and desirability.
2. What does the home's age (1913) mean for a buyer?
It offers classic architectural charm and solid construction but likely requires diligent maintenance and potential updates to mechanical systems like wiring, plumbing, or insulation. A thorough inspection is essential.
3. How does the lot size compare?
The lot is over 6,250 sqft, which is above average for both Yale Avenue and the wider Crescentwood area. This provides a generous yard, a rarity in central neighbourhoods, and could be a long-term asset.
4. The home sold for $61.5k in 2020 and $740k in 2022. What explains this jump?
The 2020 sale price was likely not an arms-length market transaction (e.g., between family members). The 2022 price represents its true market value following a significant renovation, including the basement.
5. There's no garage. Is there parking?
The listing specifies no garage. However, the large lot may allow for the addition of a garage or dedicated parking pad, subject to local zoning bylaws and permits. On-street parking is typically available in this area.