Property Overview: 124 Hazelwood Crescent
Key Characteristics & Appeal
This home presents a practical opportunity in a well-established setting. Its key characteristic is efficiency: at 864 sqft, the living space is notably compact compared to most homes on its street, in the Vista neighborhood, and across Winnipeg. This is balanced by a lot size that is typical for the city and an assessed value that aligns closely with local and area averages. Built in 1964, it is among the older homes on its block, suggesting a classic layout and potential for updates.
The appeal lies in its affordability and manageability. The value is anchored more in the land and location than in the size of the dwelling, making it a cost-effective entry point into the market. It would suit first-time buyers, downsizers, or investors seeking a lower-maintenance property without a premium price tag. A thoughtful perspective is that a smaller, efficiently designed home can offer lower utility costs and less upkeep, freeing up resources for renovations, travel, or investment. Its "around average" valuation in a market of larger homes indicates it's priced for its current offering, providing a straightforward canvas for a buyer to personalize over time.
Frequently Asked Questions
1. Is the smaller living area a disadvantage?
It can be an advantage for those seeking an affordable, low-maintenance home. While below average in size, it translates to a lower purchase price and ongoing costs for heating, cleaning, and taxes compared to larger homes in the same area.
2. How does the 1964 build year affect the property?
As one of the older homes on the street, it may have original features and will likely require a careful inspection of major systems (like roof, plumbing, and electrical) for their age and condition. This also means it has settled into a mature lot with likely established landscaping.
3. The assessed value is "around average," but the house is smaller. Why?
The assessment reflects more than just living space. It accounts for the land value, location, and the overall market. This suggests the lot and location hold significant value, and the price per square foot for the living space may be higher, which is typical for established neighborhoods.
4. Who would this property not be suitable for?
It may not suit buyers who need multiple large bedrooms, dedicated home office spaces, or who prefer a modern, open-concept layout without undertaking significant renovation projects. Families requiring ample indoor play space might find it cramped.
5. What is the potential here for a buyer?
The potential is for value addition through intelligent updates. A buyer comfortable with renovations could modernize the interior to improve flow and functionality, potentially increasing both livability and future value on a solid, well-located lot.