56 Crimson Way

Property Overview: 56 Crimson Way, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 2018, offers a modern foundation in the Fraipont neighborhood. With 1,366 sqft of living space, it sits around the city-wide average for size, providing a practical layout for everyday living. The property stands out for its contemporary age in a city where the typical home is much older, meaning major systems like roofing, windows, and HVAC are relatively new and likely under warranty, offering significant peace of mind.

Its primary appeal lies in being a low-maintenance, move-in-ready home in a newer development. The assessed value is notably below average for its immediate street and area, which could indicate a value opportunity for a buyer compared to neighboring homes, or reflect the specific finish level or lack of upgrades like a garage. The lot is compact at 3,367 sqft, favoring those who prefer less yard work.

This property would best suit first-time buyers or downsizers seeking a modern home without the premium price tag of a fully renovated character property. It’s also a practical fit for investors or owners who prioritize predictable upkeep costs over custom renovations. A less obvious perspective is that its "average" metrics across several categories represent stability—it’s a home that aligns closely with common benchmarks, potentially making its value and utility easy to understand and resell in the future.

Section 2: Frequently Asked Questions

1. Why is the assessed value below the area average?
While below average for Fraipont and Crimson Way, the assessment is around the city-wide median. This can be typical for newer, moderately sized homes in developing areas when compared to larger, more established properties nearby. It's advisable to review the specific assessment details and recent sales for the most accurate context.

2. What does "basement, not renovated" mean?
The home has a basement, but it has not been finished or upgraded into a formal living space. It provides essential utility and storage space, offering the potential for future development subject to permits and building codes.

3. Is the lack of a garage a significant drawback?
This depends on buyer needs. The absence of a garage keeps the purchase price and property taxes lower and simplifies exterior maintenance. For those with one vehicle or who prioritize interior space over covered parking, it can be a reasonable trade-off. On-street or driveway parking would be the alternative.

4. How does the 2023 sale price range relate to the current assessed value?
The 2023 sold price range (approximately $41.5k-$44.5k) is close to the current $40.7k assessment. This suggests the assessment is in line with recent market activity, but a current market evaluation is recommended to understand today's value.

5. What are the implications of the lot size?
At just over 3,300 sqft, the lot is smaller than many in the city. This means less outdoor maintenance and lower landscaping costs, which is a benefit for those seeking simplicity. However, it also means limited space for large gardens, expansions, or extensive outdoor recreation.