Property Overview & Key Characteristics
This home at 69 Pike Crescent in Winnipeg's Munroe East neighbourhood presents a specific and practical value proposition. Built in 1969, its 696 sqft living area is modest, ranking below average for both the wider area and the city, which points to a compact, efficient layout. The lot size of 3,448 sqft is also below the neighbourhood average, suggesting lower outdoor maintenance. Its standout feature is its assessed value of $24.5k, which is consistently below average on its street, in Munroe East, and city-wide. This indicates a potentially lower property tax burden—a key financial consideration. The home last sold in the $250k-$300k range in 2024.
Its appeal lies in affordability and manageability. It suits first-time buyers seeking an entry point into homeownership with controlled carrying costs, downsizers looking to reduce space and expenses, or pragmatic investors interested in a property with a lower tax base. A less obvious perspective is that a home of this era and size on a smaller lot may offer a simpler renovation project, with fewer overwhelming choices compared to a larger, more complex property.
Frequently Asked Questions
1. What does the assessed value really mean for me?
The assessed value ($24.5k) is used to calculate your property taxes. It being significantly below average for the street and city suggests your annual tax bill should be proportionally lower, which is a direct and ongoing cost saving.
2. Is the living space too small?
At 696 sqft, it is compact. This suits individuals, couples, or those who prioritize efficient living over ample space. It’s notably smaller than the Munroe East average (~1,009 sqft), so viewing the layout in person is essential to gauge functionality for your needs.
3. How does the 2024 sale price relate to the assessed value?
The sale price ($250k-$300k) reflects the market value a buyer recently paid. The assessed value is a separate figure for municipal taxation. The large gap between them is common, but it specifically highlights the low tax assessment component of this property.
4. What are the implications of the smaller lot size?
The 3,448 sqft lot is below the neighbourhood average. This typically means less yard work and lower exterior maintenance costs, which can be a benefit for those seeking a low-maintenance property, though it offers less private outdoor space.
5. You mention the home is "below average" in many metrics. Is that a bad thing?
Not necessarily. In this context, "below average" for size and assessed value directly translates to lower purchase price points, lower property taxes, and less upkeep. For the right buyer, these are desirable characteristics that prioritize financial efficiency and simplicity over sheer space or prestige.