Property Overview
75 Hookway Crescent is a well-established, single-family home in Winnipeg's Elmhurst neighbourhood. Built in 1989, this one-storey home sits on a large, 6,333 sqft lot and offers 1,645 sqft of living space. Key features include an attached garage and an unfinished basement, providing a blank canvas for future expansion or storage. The property does not have a swimming pool.
The home’s primary appeal lies in its balance of space, location, and value. It occupies a generous lot that is larger than most in its immediate area, offering room for gardening, play, or outdoor enjoyment. While the house itself is not the newest on the street, its assessed value is notably lower than many neighbours, presenting a potential value opportunity for buyers willing to consider a solid, older home. The unfinished basement is a key feature, allowing new owners to customize the space to their needs without paying a premium for someone else’s renovations.
This property would suit first-time buyers or practical-minded families looking for a foothold in a mature neighbourhood without a premium price tag. It’s also a sensible choice for buyers who view a home as a long-term project, appreciating the chance to increase equity through finishing the basement and updating the interiors over time.
Frequently Asked Questions
1. What does the "relative ranking" data mean?
The rankings compare this property to others on its street, in Elmhurst, and across all of Winnipeg. For example, its lot size ranks in the top 25% city-wide, meaning it's larger than 75% of Winnipeg lots. Conversely, its assessed value is lower than 97% of homes on its street, indicating it may be priced below the immediate area's norm.
2. Is an unfinished basement a drawback?
Not necessarily. While it requires an investment to finish, it means you can design the space exactly as you want—a second living area, extra bedrooms, or a dedicated workshop—without first demolishing old work. It also means you haven’t paid for a previous owner’s potentially dated or low-quality renovation.
3. The house is 37 years old. What should I be mindful of?
As with any home of this age, the major systems (roof, windows, furnace, plumbing) may be nearing or past their typical lifespan. A thorough inspection is crucial to understand what maintenance or replacements may be imminent, which should be factored into your budgeting.
4. How does the lot size benefit me?
A lot of over 6,300 sqft provides ample private outdoor space, which is a growing luxury in many neighbourhoods. It allows for larger gardens, safe play areas for children, space for a shed or patio, and better privacy from neighbours compared to newer, more densely packed subdivisions.
5. Who is the typical buyer for this home?
This home is likely most appealing to value-conscious buyers who prioritize land size and location over a move-in-ready, modern interior. It's a practical choice for those who see potential in personalizing a space over time and are comfortable with some deferred maintenance or updates common to houses of this vintage.