Property Overview
This home at 32 Farnsworth Crescent presents a compelling profile within Winnipeg’s River Park South neighborhood. Built in 2010, it is a relatively modern property that stands out for its efficient use of space and strong value positioning.
Key Characteristics & Appeal
The 1,586 sqft home sits on a 5,580 sqft lot, offering a balanced footprint that is squarely average for the neighborhood and city. Its primary appeal lies in its value proposition: with an assessed value of $538k, it sits significantly above the citywide and neighborhood averages, yet it is notably below the average for its own street. This suggests you are acquiring a well-regarded, modern home in a mature, established area where many neighboring properties command higher valuations.
The home’s living area tells a similar story—it is above the city average but smaller than most on Farnsworth Crescent. This creates a unique dynamic: the property offers modern comforts and efficient space in a neighborhood of larger, often more valuable homes. It recently sold for an estimated $600k-$650k, a price that ranked in the top 5% for the area, confirming strong market demand.
This property would suit practical buyers looking for a move-in ready, modern home without the footprint or maintenance of a larger estate. It’s ideal for small families, professionals, or downsizers who prioritize a newer build in a solid community over maximizing square footage. The data indicates it’s a premium offering within its broader market, but a relative value play on its specific street.
Frequently Asked Questions
1. Is this a large home for the area?
Not particularly. At 1,586 sqft, its living area is around the neighborhood average but is actually one of the smaller homes on Farnsworth Crescent itself, where the average is 2,253 sqft.
2. Why is the assessed value so much lower than the street average?
The average assessed value on the street is $688.5k, largely driven by larger, possibly more renovated homes. This home’s assessment of $538k reflects its more moderate size and likely its specific features, making it a lower-priced entry point to a desirable street.
3. How does the recent sale price compare?
The estimated sale price of $600k-$650k placed it in the top 5% of sales for River Park South, showing buyers paid a premium for it. This sale price is also well above its assessed value, which is common in active markets.
4. What does the year built tell us?
Built in 2010, it is newer than most homes in Winnipeg and the neighborhood. On its street, it’s among the newest, indicating the street is comprised of well-maintained, modern properties.
5. Is the lot size a pro or a con?
The 5,580 sqft lot is very typical for the neighborhood. It offers a standard suburban yard without being overly large for maintenance, striking a balance that suits many buyers.