Property Overview: 34 Riley Crescent, Crescent Park, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home in Crescent Park offers a practical footprint with a renovated basement and a detached garage. Built in 1952, its key appeal lies in its efficient use of space—the 1,224 sqft living area is notably above average for its immediate street—and its recent basement update provides modern, functional space. The lot, while smaller than many in the neighbourhood at just under 5,000 sqft, translates to lower maintenance. The home’s assessed value is positioned below average for the area, which can represent a value-oriented entry point into a stable community.

Its charm is grounded, not flashy. It suits first-time buyers or downsizers seeking a manageable property without a major renovation project, thanks to the updated basement. It would also appeal to a pragmatic buyer who values a neighbourhood character over a large lot, and sees the below-average assessment as an opportunity for potential equity growth as improvements are made. The data suggests it’s a home that stands out more favorably on its own street than in the broader area, indicating a potentially tight-knit, established block.

Section 2: Frequently Asked Questions

1. How does the property’s size compare to the neighbourhood?
The living space is actually above average for Riley Crescent itself, but closer to the Winnipeg average. The land size, however, is significantly smaller than most lots in Crescent Park, meaning less yard upkeep.

2. What does the “below average” assessed value indicate?
It suggests the city’s assessment is lower than many homes in the immediate area. This can be advantageous for property taxes, but it often reflects the home’s age, smaller lot, and market positioning rather than condition, especially given the renovated basement.

3. Is the renovated basement a full suite?
The details confirm a renovated basement but do not specify if it is a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.

4. What is the significance of the 2020 sale price?
The home sold for $25,300 in January 2020. This is a very low transaction value, atypical of a standard market sale. It strongly suggests the transfer was between family members, for nominal consideration, or part of an estate settlement, and should not be used as a benchmark for current market value.

5. Who might find the smaller lot size a benefit?
While many seek large yards, this smaller lot means significantly less time and money spent on landscaping, gardening, and general outdoor maintenance—a plus for those seeking a low-maintenance lifestyle or who prefer to spend their free time elsewhere.