Property Summary: 124 Ridley Place, Crestview, Winnipeg
Section 1: Overview & Appeal
This well-situated one-storey home in Crestview presents a specific and compelling value proposition. Its key characteristic is a generous 5,389 sqft lot, which ranks in the top 5% on its street and top 21% in the neighbourhood, offering significant outdoor space that is increasingly rare. The home itself is modest at 783 sqft of living area, and its 1963 build date places it among the older homes on the block. However, it features a renovated basement and an attached garage.
The primary appeal lies in its land value and location within a stable, established community. It suits two main types of buyers: first, those looking for a manageable, single-level footprint who value a large yard for gardening, pets, or future expansion over a large interior. Second, it appeals to value-conscious investors or renovators who see potential in the substantial lot and the fact that the property's assessed value has risen steadily from $22.4k in 2019 to $30.5k currently. A less obvious perspective is that, while the living space is small compared to nearby references, the low assessed value could translate to relatively lower property taxes, which is a key long-term affordability factor.
Section 2: Frequently Asked Questions
1. Is the house itself in good condition?
The listing confirms a renovated basement, which is a positive update. As a 1963 build, prospective buyers should budget for a thorough inspection of major aging components like the roof, foundation, and mechanical systems to understand any needed investments.
2. Why is the living area so much smaller than the nearby reference properties?
This home's layout is more compact than many in the area. This emphasizes its role as a land-value play or a cozy starter home, rather than a direct comparison to larger neighbouring houses.
3. What does the "rank by area" and other rankings mean?
These metrics show how this property compares to others on its street, in Crestview, and across Winnipeg. For example, its lot size ranks highly locally, while its living area is smaller than most. This helps you understand what you're primarily paying for.
4. Has the property value been increasing?
Yes. The sold price history shows it increased from $22.4k in August 2019 to $28.5k in February 2020. The current assessed value of $30.5k continues this upward trend, suggesting the market recognizes its underlying value.
5. What is the neighbourhood like?
Crestview is an established, mature neighbourhood. The list of nearby properties on the same street and nearby bays indicates a quiet, residential setting with a mix of home styles and vintages, typical of Winnipeg's older, core communities.