Property Overview: 30 Olivewood Crescent, Winnipeg
Section 1: Key Characteristics & Appeal
This 1975-built bungalow in Meadowood stands out for its generous 10,328 sqft lot, which is notably larger than most in the area, placing it in the top 5% of the neighbourhood. The 1,160 sqft living space is comfortably above average for both the street and the local community. With an assessed value that ranks well above local averages, the property presents a solid, established foundation in a mature neighbourhood.
The primary appeal lies in its rare combination of a very large, private yard within a city setting—a significant advantage for gardening, recreation, or future expansion. Its above-average rankings on its own street suggest it is one of the more substantial and well-regarded homes in the immediate area. This home would best suit practical buyers who value indoor-outdoor space over brand-new finishes, such as growing families seeking room for kids and pets, or downsizers looking for a manageable single-level layout without sacrificing yard space. It’s a property for someone who sees the underlying value in land size and established community character, and who may be prepared for the maintenance or updates typical of a home from the 1970s.
Section 2: Frequently Asked Questions
1. How does the lot size compare to a typical city lot?
The lot is approximately a quarter of an acre, which is significantly larger than the standard Winnipeg lot. It ranks in the top 6% city-wide, offering substantial outdoor space that is increasingly uncommon.
2. The home was last sold in 2023. What does that recent sale indicate?
The sale occurred within the price range of $300k-$350k. A relatively quick resale could indicate a flipped investment or a change in the owner’s circumstances. It’s a key point for further investigation to understand any recent renovations or the reason for the short tenure.
3. Is the assessed value a reliable indicator of the likely selling price?
Not directly. The assessed value of $43,400 is for municipal tax purposes. The 2023 sale price provides a more current market benchmark, though prices have shifted since then. The assessment being above area averages does signal the property is considered relatively substantial by the city assessor.
4. What might the "above average" rankings on the street imply?
Homes on Olivewood Crescent appear quite consistent in age and size. Ranking 3rd of 18 for assessed value and having the largest lot (rank 1 of 18) suggests this property is likely one of the more premium offerings on this particular street, potentially offering better views, positioning, or original specifications.
5. What are the considerations with a home built in 1975?
A 51-year-old home will have components nearing the end of their service life. While it presents an opportunity to customize, a thorough inspection of major systems (roof, windows, plumbing, electrical, HVAC) is essential. The positive trade-off is often well-built construction and a mature, established neighbourhood with larger lots than newer subdivisions.