Property Overview
This 1951-built, single-story home at 292 Marlton Crescent offers a classic layout with 1,306 sqft of living space and a finished basement. Its most defining feature is the exceptionally large, 12,165 sqft lot, which places it in the top 3% of all properties in Winnipeg for land size. The home recently sold in December 2024 for $425,000. While the house itself is of average size for its neighborhood and shows its age in ranking comparisons, its appeal is firmly rooted in its land. This is a property for buyers who see potential in space and location over modern finishes. It would suit a hands-on buyer looking for a long-term family home with room to grow, expand, or simply enjoy expansive outdoor living, as well as an investor or builder who recognizes the underlying value of such a sizable parcel in the city.
Key Questions & Considerations
1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in the Marlton neighbourhood, and across all of Winnipeg. They highlight that while the house is older and average in size for the area, the lot size is exceptionally large city-wide, and the final sale price was competitive, outperforming many similar recent transactions.
2. Is the large lot usable, or are there restrictions?
A lot of this size (over a quarter-acre) is rare within Winnipeg and offers significant potential. However, buyers should verify zoning bylaws with the city to understand what is permissible for additions, outbuildings, or subdivision, as these factors determine the land's true utility and value.
3. The house is older; what should I be prepared for?
Built in 1951, major systems like plumbing, electrical, and the roof may be at or beyond their typical lifespan. A thorough inspection is crucial to budget for necessary updates or repairs, balancing the cost against the premium paid for the land itself.
4. There's no garage. How big of an issue is that?
For some buyers, this is a significant drawback. However, the vast lot size presents a clear opportunity to add a garage or workshop, subject to zoning and permit approvals. This is a practical project that could add considerable value.
5. It sold for well above the assessed value. Why?
The assessed value ($351,000) is for taxation purposes and often lags behind the market. The $425,000 sale price reflects what buyers are currently willing to pay, strongly suggesting the market places a high premium on the combination of a liveable home on an exceptionally large, central lot.