Property Overview: 138 Kingsway, Crescentwood, Winnipeg

Key Characteristics & Appeal

This is a substantial, century-old home on a large, desirable lot in the established Crescentwood neighbourhood. Built in 1906, the two-and-a-half-storey house offers nearly 2,800 sq ft of living space, which is significantly above the citywide average. Its key features include a detached garage and a full basement that presents an opportunity for future development. The property’s primary appeal lies in its location and land. The lot size of over 8,400 sq ft is well above average for both the neighbourhood and the city, offering rare space and potential in a prime area.

The home suits buyers who value character, space, and location over a turn-key, modernized property. It’s an ideal candidate for a long-term restoration or renovation project, allowing a new owner to customize the interior while securing a prestigious address. It would also appeal to those looking for a multi-generational living opportunity, given the size and the unfinished basement ready for a suite. A less obvious perspective is its appeal to a buyer focused on land value and legacy; this is a property where the underlying asset—the large lot in a historic neighbourhood—may hold and appreciate independently of the current condition of the house.

Frequently Asked Questions

1. What does "basement, not renovated" imply?
It indicates the basement is unfinished or in its original state. It’s a blank canvas for development, whether for additional living space, storage, or utilities, but will require a full renovation to be livable.

2. How does the assessed value relate to the likely sale price?
The municipal assessed value is significantly lower than the last sale price in 2020 ($460k). Assessments are for tax purposes and often don’t reflect current market value, especially for unique, character homes in high-demand neighbourhoods.

3. Is the age of the home (1906) a concern?
It represents both character and responsibility. You can expect charming original details, but also should budget for updates to major systems like wiring, plumbing, and insulation, and plan for ongoing maintenance typical of a 120-year-old structure.

4. What does the lot size mean for me?
The above-average lot provides exceptional outdoor space for gardens, recreation, or expansion. It also offers more privacy and distance from neighbours than is typical in the area, a valuable premium.

5. How does this home compare to others nearby?
The data shows it has a larger lot than most in Crescentwood and a much larger living area than the average Winnipeg home. Its last sale price was above average for the city. It fits comfortably within the range of its immediate peers on Kingsway in terms of size and value, but stands out for its very early build date and land footprint.