Property Overview
This 1927 one-and-three-quarter storey home at 331 Kingston Crescent offers a blend of established character and above-average space. Its key appeal lies in its generous proportions relative to the market. The living area of over 2,000 sq ft is notably larger than most homes in Winnipeg, placing it in the top 10% citywide. This is complemented by a substantial, private lot of nearly 9,400 sq ft, which is also well above the city average. The home features a detached garage and an unrenovated basement, presenting a classic layout with clear potential for personalization.
The property would suit a buyer looking for a home with inherent space and land value in an established neighborhood. It’s ideal for someone comfortable with the upkeep of a character home (built in 1927) who sees the unfinished basement and potential dated elements not as drawbacks, but as a blank canvas to modernize incrementally according to their own taste and budget. The assessed value ranks in an elite tier citywide, suggesting a solid underlying value proposition for a buyer willing to invest sweat equity.
Frequently Asked Questions
What does "one-and-three-quarter storey" mean?
This is a common architectural style in Winnipeg, typically featuring a full main floor and a second floor where the roofline slopes inward, creating cozy bedrooms with slightly lower ceiling heights at the room's edges. It offers more space and character than a bungalow but often feels more traditional than a modern two-storey.
The assessed value seems low compared to the "citywide average" shown. Why?
The citywide average assessed value shown (~$390k) is for comparable homes in size and type, not all homes. This property's assessment of $66.60k is a municipal valuation for tax purposes and is often significantly lower than current market value. Its "top 5%" ranking indicates its assessment is high relative to other homes, hinting at strong municipal valuation for its category.
The home sold in early 2021. What can that price tell me?
The sold price range from 2021 ($535k-$565k) provides a historical benchmark, but the market has evolved since. It's most useful for understanding the price trajectory of the home itself, not for setting a current offer price. The key takeaway is that it sold at a premium to its assessed value even then, which is typical.
How significant is the unrenovated basement?
This is a major factor. It means significant storage or living space exists but will require investment to finish. For some, this is a downside requiring immediate budget. For others, it's a pro: it allows for a custom layout (e.g., suite, rec room, workshop) without the cost of undoing someone else's subpar renovation.
The lot size is a standout feature. What are the implications?
Beyond privacy and room for gardens or play, a lot of this size (top 8% in Winnipeg) is a long-term asset that is increasingly rare. It provides options for future additions, landscaping projects, or simply enjoying expansive green space. It also typically contributes substantially to the property's overall market value and appeal.