Property Overview
This well-situated home at 182 Ridley Street in Winnipeg's Crestview neighbourhood presents a practical and value-oriented opportunity. Its key appeal lies in a solid balance of space, lot size, and recent updates, positioned within a stable, established area.
Key Characteristics & Suitability
The 1,051 sqft bungalow sits on a generous, roughly 5,950 sqft lot, offering ample outdoor space relative to many city properties. A significant feature is the renovated basement, which adds functional living area. The home's assessed value stands out as above average for both its immediate street and the Crestview area, suggesting it is well-maintained and perceived favorably compared to its local peers. While the living space is average for the area, the combination of the updated basement and larger lot provides a tangible sense of value and potential.
This property would suit first-time buyers or downsizers looking for a manageable single-storey layout with room to grow or garden. It’s also a sensible fit for value-focused buyers who appreciate a home with recent renovations in a mature neighbourhood, avoiding the premium of a brand-new build. The detached garage adds practical storage or workshop space. A less obvious perspective is that its above-average assessment on the street could indicate it's among the better-kept homes in the immediate vicinity, potentially offering a sense of stability and pride of ownership.
Frequently Asked Questions
1. How does the home's size compare to others nearby?
At 1,051 sqft of living area, it is very close to the average for both Crestview and Ridley Street itself, offering typical space for the neighbourhood.
2. What does the "above average" assessed value indicate?
The assessed value is in the top 17% for Crestview and top 13% on Ridley Street. This generally suggests the property is in good condition and/or has features that give it a higher official valuation than many surrounding homes.
3. Is the lot size a notable feature?
Yes. The lot is over 5,900 sqft, which is larger than many city lots and provides good outdoor space. It ranks in the top third for size on its own street.
4. What should I know about the home's age?
Built in 1962, it is a mature home. The renovated basement is a key update, but buyers should expect typical maintenance for a home of this era during an inspection.
5. How does the last sale price relate to the current assessment?
The home sold for $310,000 in late 2017. Its current assessed value is significantly lower, as property assessments in Manitoba for tax purposes are not intended to reflect current market value. The sale history provides a past market reference point, but a current appraisal would be needed for today's value.