Property Overview

940 Riviera Crescent is a one-storey home built in 1940, situated on a roughly 5,930 sqft lot in Winnipeg's Crescent Park neighbourhood. Its key feature is a renovated basement, adding valuable finished space to the 1,300 sqft living area. The property does not include a garage or pool. Recent data shows it sits on a lot that is around the city-wide average size but is notably older than most homes in its immediate area. Its assessed value is positioned around the middle range compared to the broader Winnipeg market.

Section 1: Key Characteristics & Appeal

This home’s primary appeal lies in its balance of a solid lot size within a mature, established neighbourhood and the added utility of a renovated basement. The charm is practical rather than luxurious, offering a straightforward layout on a single level. Its lot is private and sizable for the area, providing good outdoor potential.

The property would likely suit a specific type of buyer: a first-time homeowner, a downsizer looking for minimal stairs, or an investor seeking a land-value proposition in a stable neighbourhood. The renovated basement is a significant asset, offering immediate extra living space, a rental opportunity, or flexible room for a home office or suite. It’s important to note that the 1940 build date suggests a need for diligence regarding the condition of major aging components, like the roof, plumbing, and wiring, which could be seen as a project for some or a worthwhile trade-off for the lot and location by others.

Section 2: Frequently Asked Questions

1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the finish quality, permitted status, or room types. A buyer should request details on the renovation's scope, materials used, and whether it included moisture-proofing, as basements in older homes can be prone to dampness.

2. How does the lack of a garage affect daily life and value?
There is no garage on the property. This means all vehicles are parked outdoors, which is a consideration for Winnipeg winters. It also reduces dedicated storage space. For some buyers, this is an acceptable compromise for the lot size and price point, while for others it may be a drawback.

3. The home is older than most on the street. Is this a concern?
Built in 1940, it is among the oldest homes on Riviera Crescent. This can mean charming character but also a higher likelihood of outdated systems. A thorough inspection is crucial to understand the condition and potential upcoming costs for updates (e.g., heating, electrical, insulation).

4. The assessed value seems low. What does this mean?
The municipal assessed value for taxation purposes ($36,200) is different from market value. It is a bureaucratic calculation used for property taxes. The last sale price in 2022 was $38,300. The current market value will be determined by recent comparable sales, buyer demand, and the home's condition.

5. Is the lot size a good feature for the neighbourhood?
At nearly 6,000 sqft, the lot is above average for the immediate street and provides good outdoor space for gardens, play, or entertaining. In the context of Crescent Park and city-wide comparisons, it is a competitively sized, private parcel for the area.