60 University Crescent

Property Summary: 60 University Crescent, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated one-storey home in the Agassiz neighbourhood offers a blend of space, established charm, and solid value. Its primary appeal lies in its generous 6,518 sqft lot—ranking in the top 16% on its street—and a renovated basement, providing significant room for living and potential. With 1,643 sqft of living space, it is notably larger than most comparable homes in the immediate area.

The property suits a few specific buyer types perfectly. First-time buyers or downsizers will appreciate the single-level living and the move-in readiness implied by the renovated basement. It’s also a strong candidate for buyers seeking a "land value" opportunity; the large, level lot in a mature neighbourhood offers long-term potential, whether for gardening, expansion, or future redevelopment. The home’s assessed value is remarkably low relative to its recent sale price, which may indicate significant updates not reflected in the assessment or a strong market premium for the lot and location. This discrepancy is a key point for savvy buyers to investigate.

Section 2: Frequently Asked Questions

1. How does the recent sale price compare to the area?
The home sold for $370,000 in late 2021, a price that ranked in the top 1% of the Agassiz neighbourhood at that time. This suggests the property commanded a premium, likely due to its large lot size, renovated basement, or specific condition.

2. What does the low assessed value mean?
The assessed value of $47,500 is for municipal tax purposes only and is typically based on mass appraisal formulas and older data. It is not a reflection of current market value, as clearly shown by the 2021 sale price. The large gap often indicates substantial renovations or market forces not yet captured in the assessment.

3. Is the house older, and what does that imply?
Built in 1962, the home is part of a mature neighbourhood with established infrastructure and landscaping. Buyers should budget for age-appropriate maintenance (roof, windows, major systems) but can also expect well-developed tree canopies and settled communities.

4. How does the lot size benefit me?
At over 6,500 sqft, the lot is significantly larger than many in Winnipeg (top 22%). This provides ample private outdoor space, room for additions like a deck or garage, and better privacy from neighbours. In established areas, large lots are a finite resource.

5. Who are the typical neighbours?
The listing references nearby properties on University Crescent and Agassiz Drive, indicating a quiet, residential crescent. The provided comparable homes with similar assessed values are all in the Elmhurst area, suggesting a broader neighbourhood character of stable, mid-century homes.