Here is the summary based directly on the provided property data.
Key Characteristics & Buyer Profile
This is a 1946 home on Wellington Crescent with 1,477 sq ft of living space and a 6,531 sq ft lot. Its most distinguishing features are its assessed value and lot size relative to the city as a whole.
What Stands Out: The property’s assessed value ranks in the top 14% citywide, and its land area sits in the top 22%. This suggests the land holds significant underlying value. While the living space is slightly below the average for both its street and neighbourhood, it is still larger than most homes across Winnipeg, beating the city average by about 135 sq ft.
The Trade-Off: Compared to other homes on Wellington Crescent, this property is relatively modest in size and value. It falls near the middle of the street for age but well below the street average for both home and lot size. You’re buying into a prestigious address, but you are getting one of the more attainable entries into that market. The house itself is from 1946, which is older than the city average but newer than many of its neighbours in the immediate area.
Who It Suits:
- A buyer who wants the address and the neighbourhood cachet of Wellington Crescent without paying the premium for the largest home on the block.
- Someone who sees value in the land and is open to a future renovation or rebuild, given the strong land-to-total-value ratio.
- A buyer moving up from a smaller city home who wants more space than average (1,477 sq ft) but isn’t looking for a massive property.
Frequently Asked Questions
1. How does the home’s size really compare to other houses in the area?
The 1,477 sq ft is about 1,100 sq ft smaller than the average home on Wellington Crescent and roughly 860 sq ft smaller than the average in the wider neighbourhood. However, it is larger than a typical Winnipeg home.
2. Is the assessed value of $541,000 a reliable indicator of market price?
It is a solid reference point. The assessment places this property in the top 14% of value in the city, which is a strong signal. That said, it is well below the average assessed value for the street ($929,000) and neighbourhood ($806,000). The final market price will depend on the home’s condition, finishes, and how much a buyer is willing to pay for the specific location within the Crescent.
3. What does the “above average” land size relative to the city actually mean practically?
A 6,531 sq ft lot gives you a reasonably sized yard for this area. It is roughly 40% smaller than the average lot on Wellington Crescent itself, but it is still larger than most properties in Winnipeg. It offers a usable outdoor space without the maintenance burden of a much larger estate lot.
4. The house was built in 1946. What should I expect in terms of maintenance?
It is post-war construction, which often means solid framing but can come with older electrical, plumbing, and insulation. It is newer than the average home in the immediate neighbourhood (1940) but older than the city average (1966). A thorough inspection—especially of the foundation, wiring, and the heating system—would be wise.
5. Why is the property’s rank on the street (top 61% for value) so much lower than its citywide rank (top 14%)?
This is the key to understanding the property. On Wellington Crescent, you are competing against some of the largest and most expensive homes in Winnipeg. Within that context, this home is modest. But when compared to every property in the entire city, it is in a high tax bracket simply because of its location and land value. It is a relatively affordable entry point into an expensive street.