Property Overview
This home at 3 Glencrest Place in Winnipeg's Linden Woods neighbourhood presents a specific value proposition. Built in 1983, it sits on a generous, above-average city-wide lot of nearly 7,000 sqft. With 1,492 sqft of living space, it is a more modest-sized home compared to others on its street and in Linden Woods, but it aligns closely with the average home size across Winnipeg. Its assessed value is notably lower than many in the immediate area, yet it ranks well above average compared to the entire city. This profile suggests a property that offers the prestige and space of a desirable neighbourhood without the premium typically associated with its larger, more updated counterparts.
Key Characteristics & Appeal
The primary appeal of this property lies in its land and location. The large lot in Linden Woods is a significant asset, offering ample outdoor space and potential in a well-regarded community. It suits a specific type of buyer: perhaps a downsizer seeking to maintain a prime address with a manageable home size, a value-conscious buyer looking to enter the Linden Woods market with room to customize over time, or an investor recognizing the underlying land value. Its city-wide above-average assessment against a below-average neighbourhood assessment indicates a price point that may provide relative value within this specific market.
The home last sold between $400k-$450k in 2020. Its current assessed value of $55.70k is consistent with Winnipeg's assessment methodology (a fraction of market value) and places it well below the neighbourhood average, hinting at a potentially competitive asking price. Buyers should see this as an opportunity to secure a large lot in a top area, with the understanding that the dwelling itself may require updates or is valued for its functional space rather than luxury finishes.
Frequently Asked Questions
1. Why is the assessed value so much lower than the likely selling price?
In Winnipeg, the City's assessed value for property tax purposes is intentionally a fraction of the estimated market value. It is used for taxation, not listing. The key metric is how this assessment ranks compared to neighbours (below average here), which can indicate relative value within the area.
2. The home seems smaller than others on the street. Is that a concern?
It is the smallest home on Glencrest Place by living area. This is the defining characteristic of the listing. It translates to a more manageable interior size and is a primary reason the assessed value is lower than neighbouring homes, which may appeal to those seeking a large lot without excessive square footage to maintain.
3. What does the sold price history tell us?
The home sold in the $400k-$450k range in 2020. This provides a historical benchmark. The exact price is available upon request from the listing service, which is a common practice to ensure data accuracy before use in financial decisions.
4. Is the 1983 build date a problem?
The home is of an average age for Winnipeg. While it may need system updates (roof, windows, HVAC) common for its era, its build year is newer than most on its street and in line with the Linden Woods average. A thorough inspection is always recommended.
5. How does this property compare to the wider Winnipeg market?
This is where its value perspective shifts. While it ranks below average for size and value within Linden Woods, it ranks above average for lot size and assessed value compared to the entire city. This highlights that you are purchasing a premium neighbourhood asset that stands out on a city-wide scale.