Property Overview: 118 Charing Cross Crescent, Winnipeg
Key Characteristics & Appeal
This 1980-built home in River Park South presents a practical and value-oriented opportunity. Its key characteristic is a clear trade-off: at 844 sqft, the living area is notably below average for the street, neighborhood, and city, indicating a compact, efficient layout. However, this is balanced by an above-average lot size for the street (5,276 sqft), offering valuable outdoor space. With an assessed value of $388k, it sits squarely around the average for its immediate area and the wider city, suggesting a fairly priced entry point into the market.
The appeal lies in its efficiency and potential. It suits first-time buyers or downsizers seeking a manageable home without a large footprint, where the lot size provides room for gardening, recreation, or future expansion. It’s a home for those prioritizing location and land over square footage, offering a chance to live in a stable neighborhood at a value that reflects the home's modest size. A thoughtful perspective is that its below-average size in an area of larger homes could mean lower utility costs and less maintenance, appealing to those seeking simplicity and long-term affordability.
Frequently Asked Questions
1. Is the home significantly smaller than its neighbors?
Yes. The living area ranks in the bottom 10% on its own street and in the bottom 4% within River Park South, making it one of the more compact homes in the area.
2. How does the assessed value compare to recent sale prices?
The home last sold between $300k-$350k in late 2017. The current $388k assessment is closer to the area average, suggesting market growth. For exact historical sale figures, a manual lookup can be requested.
3. Does the larger lot size add meaningful value?
Potentially. The lot is larger than 75% of those on Charing Cross Crescent, providing more private outdoor space than typical for the street, which is a valued feature for many buyers.
4. What does the "around average" assessed value mean in this context?
It means the property’s official valuation is very typical—not a standout high or low—when compared to similar homes on its street, in the neighborhood, and across Winnipeg. This can indicate a stable, market-reflective price point.
5. Are there many similar homes nearby for comparison?
Yes. The immediate area has several homes from the same era (late 1970s to mid-1980s) with comparable assessed values, though many feature more living space. This provides a clear context for comparing size versus value.