1015 Wellington Crescent

Property Summary: 1015 Wellington Crescent

Key Characteristics & Buyer Profile

This property stands out for its exceptional land size and high property valuation. The lot measures 72,888 square feet, ranking second among 267 homes on Wellington Crescent and within the top 1% citywide. Its assessed value of $2.75 million places it in the top 5% on the street, top 2% in the area, and top 1% across Winnipeg. The home itself was built in a period typical for the street (mid-20th century), and while its living area is not ranked in the data provided, the land and valuation figures clearly define its position.

The appeal lies in scarcity. Very few properties in Winnipeg offer a lot of this size within an established, high-value street like Wellington Crescent. This is not a property where the structure is the main asset; the land is. It would suit a buyer who values privacy, outdoor space, or the potential to renovate, rebuild, or subdivide (subject to zoning). It is less suited for someone seeking a move-in-ready, updated home with a large interior footprint. The buyer is likely experienced with high-value real estate and understands that the assessed value reflects land more than the existing structure.

Five Possible FAQs

1. Is the house itself in good condition?
   The data provided focuses on land size and assessed value, not the condition of the home. The building was constructed around 1948. A thorough inspection is essential to determine its current state, as the value here is clearly tied to the land.

2. Can the lot be subdivided?
   This is a key question, but the data does not include zoning information. Buyers should verify with the City of Winnipeg’s planning department. A 72,888 sqft lot in a prime area often has development potential, but it is not guaranteed.

3. Why is the assessed value so much higher than the street average?
   The street average is around $929,000. This property’s value is nearly three times that, driven almost entirely by its land size (second largest on the street). The house itself contributes less to the assessment than the exceptional lot.

4. How does the living space compare to other homes?
   The living area data does not include a ranking for this property. While the street and area averages suggest larger homes are common, without a specific square footage or rank, it is not possible to say how the interior size compares.

5. Is this a good investment?
   Land in top-tier locations like Wellington Crescent tends to hold value well. The rarity of a lot this size suggests strong long-term potential. However, the existing structure may require significant investment. The purchase is primarily about acquiring land, not a turnkey home.