Property Overview

This 1911 two-and-a-half storey home at 941 Mcmillan Avenue is a classic Crescentwood character property that presents a specific value proposition. Its appeal lies in its established neighbourhood and efficient, above-average citywide living space, balanced against a lot size that is modest for the area. It suits a practical buyer who values location and character over square footage, and who is prepared for the realities of an older home.

Key Characteristics & Ideal Buyer

The home’s key characteristic is its contrast between interior space and land. With 1,637 sqft of living area, it offers more room than the typical Winnipeg home, providing good interior utility. However, its 3,020 sqft lot is notably smaller than most in prestigious Crescentwood, placing it in the bottom tier for land size in the neighbourhood. This creates a unique dynamic: you are purchasing a home that is spacious by general city standards, on a low-maintenance lot, within a highly desirable area known for much larger properties.

Its appeal is for the buyer seeking a foothold in a mature, tree-lined neighbourhood without the extensive yard work or premium price of a full-sized Crescentwood lot. It would suit a small family, couple, or professional who appreciates historic charm (the unrenovated basement hints at original character) and prioritizes location and community over expansive outdoor space. The assessed value is average for the street but below average for Crescentwood, suggesting a relative value opportunity for entering this area. A thoughtful perspective is recognizing this as an "efficient" Crescentwood purchase—you gain the address and community amenities while accepting a compact yard, ideal for those with a busy lifestyle.

Frequently Asked Questions

1. How does the lot size impact the property?
The lot is significantly smaller than the Crescentwood average. This means lower maintenance and potentially lower landscaping costs, but also limited private outdoor space and less potential for expansions like a large addition or garage.

2. What does "basement, not renovated" imply?
This typically indicates the basement retains its original or older state. It is likely functional but may have dated finishes, mechanical systems, or lower ceilings. Buyers should budget for potential updates and include a thorough inspection to assess its condition and moisture control.

3. Is the assessed value a reliable indicator of the sale price?
Not directly. The assessed value of $37.4k is for municipal tax purposes. The home last sold for $360k in 2020. Market conditions, property updates, and demand will determine the current listing price, which would be substantially higher than the assessed value.

4. Who might this property not suit?
It may not suit buyers seeking a large garden, space for a pool, or significant outdoor entertaining areas. It might also be less ideal for those wanting a completely modernized, turn-key home, given the age and mention of an unrenovated basement.

5. What are the advantages of the home's age and location?
Built in 1911, the home likely has character details like solid construction and classic architecture. The Crescentwood location offers proximity to parks, the river, strong schools, and mature infrastructure. The smaller lot in this context can be seen as a trade-off for achieving this location.