Property Overview: 585 Cedarcrest Drive, Winnipeg
Key Characteristics & Appeal
This home at 585 Cedarcrest Drive in the Rossmere-A neighborhood is a classic Winnipeg bungalow, built in 1959. With 996 sqft of living space, it is a compact and manageable size, sitting slightly below the average for both the neighborhood and the city. Its true standout feature is the 6,047 sqft lot, which is notably larger than most in Rossmere-A and ranks above average city-wide, offering valuable outdoor space and potential.
The property’s assessed value for taxes is $361,000, which is significantly higher than the averages for its immediate street and neighborhood. This suggests the municipal assessment sees value in the lot size, location, or recent improvements relative to nearby homes. Market activity indicates strong interest; the home sold for an estimated $45-50K range in July 2022, a price that ranked in the top 4% for its street at the time, showing a substantial increase from its previous sale in 2019.
This home would best suit first-time buyers, downsizers, or practical investors looking for a solid entry into a mature neighborhood. Its appeal lies in the generous lot within a well-established area, offering a balance of affordability (relative to larger homes) and the upside of land value. It’s a property where the land may be a more significant asset than the house itself, appealing to those with a vision for outdoor living or future expansion.
Frequently Asked Questions
1. Is the living space too small for a family?
At 996 sqft, the home is cozy and efficient. It would suit a small family or those comfortable with creative use of space. The larger-than-average lot provides crucial room for children to play or for adding a deck or patio to extend living areas outdoors.
2. Why is the tax assessment so high compared to nearby homes?
The $361,000 assessment ranking in the top 14% on its street indicates the city assessor attributes higher value to this property. This can be due to the lot size, specific location advantages, or updates that have been accounted for. It's wise to budget for property taxes accordingly.
3. What does the significant price jump between 2019 and 2022 indicate?
The jump from the $30-35K range to the $45-50K range aligns with the peak of a hot market. It reflects both broad market trends and possibly specific updates made to the property. Buyers should consider recent market adjustments and have a current appraisal.
4. Are homes from 1959 likely to have major issues?
Homes of this era are common in Winnipeg. While systems like plumbing, electrical, and the foundation should be carefully inspected, many have been well-maintained or updated over the decades. A thorough home inspection is essential.
5. How accurate is the listed sale price data?
The site states its sold price data is based on public records, presented in ranges, and not from the MLS. For absolute accuracy, they recommend contacting them directly to receive verified data via email. Always consult with your real estate agent for the most reliable and complete transaction history.