Property Overview: 566 Cambridge Street, Crescentwood, Winnipeg

Section 1: Key Characteristics & Appeal

This 948 sqft one-storey home sits on a 4,412 sqft lot in the desirable Crescentwood neighborhood. Built in 1951, it is notably newer than many area homes. Key features include a renovated basement and a detached garage. It recently sold for $330,000 (April 2024).

The primary appeal lies in its location within a prestigious area, offering access to the community's charm and amenities at a relatively accessible price point. The home presents a "right-sized" opportunity: it's a manageable size for individuals, couples, or small families seeking a low-maintenance footprint without sacrificing neighborhood prestige. The renovated basement adds functional living space, a valuable asset in a smaller home.

This property would best suit a first-time buyer or downsizer looking to enter the Crescentwood market. It’s a practical entry point for those who prioritize location and lot potential over a large existing living area. The buyer should be comfortable with a home whose interior space is compact for the area but who sees value in the land and the possibility of future updates or an addition. A thoughtful perspective is that its smaller scale and newer construction (for the area) could mean relatively lower immediate maintenance costs compared to the neighborhood's larger, older heritage homes.

Section 2: Frequently Asked Questions

1. How does this home compare to others in Crescentwood?
While in the heart of Crescentwood, this home is more modest in scale. Its living area and lot size are below the neighborhood average, which is reflected in its assessed value being lower than the Crescentwood norm. This is what makes it a more accessible option within this sought-after area.

2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. A viewing or inquiry with the listing agent is necessary to understand the quality of the renovation and how the space is configured (e.g., rec room, bedroom, bathroom).

3. Is there potential for expansion?
The lot size, while smaller than some in Crescentwood, may offer some potential for an addition or landscaping improvements. Any expansion would be subject to local zoning bylaws and would require proper permits and design considerations.

4. Why is the sale price significantly higher than the assessed value?
Assessed value is for municipal tax purposes and often lags behind the current market. The sale price of $330,000 is determined by what a buyer is willing to pay in the open market, reflecting factors like location, condition, and recent buyer demand.

5. What are the implications of the home's age (1951)?
Built in 1951, the home is newer than many in the neighborhood. This can be an advantage, potentially meaning updates to core systems (like electrical or plumbing) may have already occurred or that the building envelope incorporates slightly more modern standards. However, a standard home inspection is still crucial to understand the condition of the roof, foundation, and other key components.