Property Overview

This is a well-maintained, one-storey home built in 1954, situated on a generous 6,483 sqft lot in Winnipeg's Crescent Park neighbourhood. With 1,243 sqft of living space and a renovated basement, it offers functional, single-level living. The home presents a compelling mix: its assessed value is notably lower than most on its street and in the immediate area, yet it sits on a lot size that is above average citywide. It last sold in June 2023 for $370,000.

Key Characteristics & Appeal

The primary appeal of this property lies in its balance of space, location, and value. The renovated basement adds practical living area, while the large lot provides ample outdoor potential in a mature neighbourhood. Its assessed value being "below average" for the street and area suggests it may represent a relative value opportunity for a buyer, possibly due to its older construction or simpler finishings compared to neighbours. This is a home that suits practical buyers—perhaps first-time homeowners, downsizers looking for single-level living, or value-oriented investors. It appeals to those who prioritize land size and functional interior space over a modern build date or high-end assessments, and who see potential in a property that stands out as more affordable within a desirable enclave like Ruttan Bay.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the street?
This can occur for several reasons, including the home's older age (it's one of the oldest on the street), its one-storey design, simpler finishes, or the municipality's assessment methodology. It doesn't necessarily reflect the market sale price, as seen in its 2023 sale at the assessed value.

2. What does "renovated basement" typically include in a home of this era?
While specifics require a viewing, in a 1954 home this often means updated flooring, lighting, and drywall, possibly with a modernized bathroom or utility area. It's important to verify the quality of the renovation and check for any underlying moisture or foundation issues common with older basements.

3. Is the lack of a garage a significant drawback?
For some buyers, yes. However, the large lot provides excellent potential for adding a garage or carport, subject to local bylaws. Many in mature neighbourhoods manage with driveway parking, so this depends on personal need and future improvement plans.

4. How does the living area square footage compare practically?
At 1,243 sqft (plus basement), the home is slightly smaller than the average for the street. This indicates a comfortable, but not sprawling, floor plan. The single-storey design makes efficient use of space, which can be ideal for accessibility and easy living.

5. The home sold recently in 2023; what does that suggest?
The quick resale could indicate a number of neutral factors—an investor flipping the property, a change in the owner's circumstances, or simply a hot market. It does provide a very recent, transparent market price point for comparison.