Property Overview: 3 Willowbend Crescent, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,120 sqft bungalow, built in 1983, presents a practical opportunity in Winnipeg's River Park South neighborhood. Its core appeal lies in its position as a value-conscious entry point into a stable area. The home is notably one of the newer builds on its street, ranking in the top 4% locally for year built, which can suggest newer major systems compared to immediate neighbors. However, its assessed value of $354k is the lowest on Willowbend Crescent, indicating it may be a more modest or dated property compared to others on the block. This creates a clear dynamic: you're buying a newer vintage home for the street, but likely one that requires updates or is simpler in finish.
The property suits first-time buyers or downsizers seeking a lower-priced foothold in a family-oriented neighborhood, with the understanding that some investment may be needed. It also appeals to value-focused investors or buyers who prioritize a newer build year over immediate move-in luxury. The lot size is consistent with the area average, offering standard outdoor space. A thoughtful perspective is that this home represents a "base model" on a street of more upgraded houses, offering potential for personalized improvements while benefiting from the established character of the crescent.
Section 2: Frequently Asked Questions
1. Why is the assessed value the lowest on the street?
While the home is one of the newest on the block, a lower assessment typically reflects factors like smaller living area, a lack of recent renovations, more basic finishes, or a simpler layout compared to neighbors. It indicates a potential value opportunity but also suggests the property may not be updated.
2. How does the 2019 sale price relate to today's value?
The home sold for between $250k-$300k in August 2019. Market conditions have changed since then, and the current assessed value of $354k provides a more recent, though not market, valuation. The exact sale price can be requested to understand its appreciation trajectory.
3. Is the living area considered small?
At 1,120 sqft, it is below the averages for the street (1,300 sqft), neighborhood (1,410 sqft), and city (1,342 sqft) for comparable homes. It is a compact bungalow, suitable for smaller households or those seeking efficient, easier-to-maintain space.
4. What does the "newer build year" ranking actually mean for me?
Ranking in the top 4% on the street for year built (1983) means major structural components like the foundation, roof, and framing are relatively younger than most neighbors. This can be an advantage, but interior elements like kitchens, bathrooms, and flooring from the 1980s will likely need updating.
5. How does this property compare city-wide?
City-wide, this home is very average in terms of living area, land size, and assessed value. Its standout feature is its newer build year compared to the Winnipeg average (1983 vs. 1966). This positions it as a standard city property with a slight edge in building age, located in a specific suburban neighborhood.