74 Crestwood Crescent – Property Summary
Key Characteristics & Buyer Profile
This is a 1,110 sqft bungalow built in 1958 on a 5,772 sqft lot in Windsor Park, Winnipeg. Its most striking feature is the assessed value: $405,000, which ranks in the top 4% on its street and top 7% in the neighbourhood. That’s significantly above the street average of $347,700 and the neighbourhood average of $354,200. The living area is slightly above the street and neighbourhood averages but falls well below the citywide average for comparable homes, meaning the value here is driven more by location or land desirability than by square footage alone. The lot is on the smaller side for the street (top 77%), and the house is typical of the area in age.
The appeal lies in getting a home that appraises well above its immediate neighbours and the broader neighbourhood median, without paying for extra living space you might not need. It suits a buyer who values a strong asset from an equity standpoint—someone looking for a well-positioned starter home or a downsizer who wants a manageable footprint in a solid, established area. It’s less suited for someone who needs a large lot or a renovated, modern layout; the value here is in the bones and the address, not the finishings or the yard.
Frequently Asked Questions
1. Why is the assessed value so much higher than the street average, when the house is average age and the lot is smaller than most?
Assessed value reflects market conditions and comparable sales, not just physical specs. High value relative to neighbours often points to factors like a superior basement finish, a garage, recent mechanical updates, or a particularly desirable location within the street (e.g., a quieter curve, mature trees, or proximity to the river). The data suggests the property has something the market pays a premium for that isn’t captured by living area or lot size alone.
2. How does the 1,110 sqft living area compare to what’s typical for a 1958 bungalow?
It’s slightly above the street average (1,042 sqft) and the neighbourhood average (1,091 sqft), so it’s a bit roomier than many of its immediate peers. However, it’s well below the citywide average for comparable homes (1,342 sqft), which includes newer and larger homes across Winnipeg. In Windsor Park, this size is perfectly normal and tends to appeal to buyers comfortable with a compact, single-level layout.
3. The lot is ranked in the bottom quarter on the street—should that be a concern?
Not necessarily, but it depends on your plans. The street average lot is 6,291 sqft, so this lot (5,772 sqft) is about 8% smaller. In an older neighbourhood like Windsor Park, such lots are common and still provide a decent yard. The trade-off is often less maintenance and lower purchase price relative to larger lots. If you want a big garden or room for an addition, it might feel tight; if you want a manageable property with strong value, it’s a reasonable fit.
4. Is this home outdated? The year built is 1958.
It’s typical for the area. The street average year built is 1960, the neighbourhood is 1961, and the city average for comparable homes is 1966. So it’s slightly older than the norm but not unusually so. The real question isn’t the age—it’s whether the major systems (roof, furnace, electrical, windows) and interior finishes have been updated recently. The assessed value suggests someone has invested in the property, but you’ll want to verify the condition in person rather than assume.
5. What kind of price range does a top-4% assessment on this street imply for a sale?
Assessed value is not the same as market price, but it’s a strong benchmark. In a stable market, a property assessed at $405,000 on a street averaging $347,700 typically trades near or slightly above its assessment, especially if it’s in good condition. However, the citywide ranking (top 37%) shows it’s not an outlier across all of Winnipeg—just on this particular street. That means the price is driven by local micro-market dynamics, not citywide demand. A realistic sale price would likely land in the high $390s to low $410s, subject to condition and buyer competition.