Property Overview: 47 Crossgate Road, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Kildare-Redonda presents a practical and value-oriented opportunity. Its key appeal lies in a combination of a desirable lot and a recent, significant increase in market value. While the 988 sqft living area is modest and below the city average, the nearly 6,000 sqft lot is substantially larger than most in the neighborhood, offering valuable outdoor space and potential. The home features a renovated basement and a detached garage.
The property’s standout characteristic is its financial trajectory. It last sold in mid-2019 for an estimated $23.5k–$26.5k and then again in late 2024 for an estimated $37.5k–$40.5k. This represents a notable increase, significantly outpacing typical growth in its immediate area during that period. Its current assessed value is also high relative to nearby homes. This suggests strong investor confidence or substantive improvements in the property or locale.
This home would suit a first-time buyer looking for a manageable footprint with room to grow outdoors, or an investor attracted by the clear, recent appreciation. It’s less suited for those seeking ample above-ground living space without a renovation project.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 988 sqft, the main floor living area is compact. However, the renovated basement provides additional functional space, making the overall footprint more practical for daily life.
2. What does the recent sale price jump indicate?
The approximate 50% increase in sale price between 2019 and 2024 is significant. It typically points to major renovations, a hot micro-market, or a previous sale under market value. Reviewing the exact sale details and any permit history for improvements is advised.
3. How does the lot size benefit a buyer?
The lot is a key asset. At nearly 6,000 sqft, it’s larger than over 85% of lots in Kildare-Redonda. This allows for greater privacy, gardening, recreational space, or future expansion like a shed or addition, subject to zoning.
4. Why is the assessed value higher than many neighbors?
The above-average assessment likely reflects the recent arm’s-length sale price from late 2024. Municipal assessments often follow market trends, so a recent high sale can elevate a home’s assessed value relative to neighbors who haven’t sold recently.
5. What are the considerations with a detached garage?
A detached garage offers flexibility and can reduce noise from vehicles. The trade-off is convenience, especially during Winnipeg winters, as you must go outside to access your vehicle from the house.