Property Overview: 124 Freemont Bay, Crestview, Winnipeg

Key Characteristics & Appeal

This is a modest, single-storey home built in 1963, offering a practical and straightforward living space. With 1,070 sqft of living area, it sits right around the average size for the Crestview neighbourhood, providing adequate room without being expansive. A key feature is its renovated basement, which adds valuable functional space. The lot size of 5,496 sqft is slightly below the local street average but is still a respectable urban parcel.

The primary appeal lies in its position as an accessible entry point into the market. Its assessed value is notably below averages for the street, neighbourhood, and city, which typically suggests a more affordable price point. This creates an opportunity for value-conscious buyers, such as first-time homeowners or investors, who are comfortable with a home from the 1960s. The recent basement renovation is a significant plus, indicating some modernized living space without the premium of a fully updated home. It suits buyers looking for a solid foundation in a stable area, where they can live comfortably now and potentially make incremental updates over time.

A less obvious perspective is its potential as a long-term hold. Homes from this era on decent-sized lots in established neighbourhoods often present opportunities for future expansion or redevelopment, subject to local bylaws. Its "around average" metrics across several categories suggest it is a typical, no-surprises property for Crestview, which can be a virtue for those seeking predictability and community consistency.

Frequently Asked Questions

1. Why is the assessed value so much lower than the averages shown?
The assessed value is a municipal valuation for tax purposes and is often lower than market value. Its ranking indicates it is on the lower end compared to nearby homes, which can be due to factors like the home's condition, specific features, or the timing of the assessment. It generally signals a potentially lower purchase price.

2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Prospective buyers should inquire about the quality of the renovation, what it includes (e.g., finished rooms, moisture protection, permits), and when the work was completed to understand its true value and condition.

3. How does the lack of a garage affect daily living and value?
The home has no garage, which is common for many properties of this vintage. Buyers should consider their needs for vehicle storage, workshop space, and winter parking. This can impact convenience and may be a factor in the home's affordability relative to properties with garages.

4. The home sold in June 2020. What might have changed since then?
The 2020 sale price provides a historical benchmark, but market conditions have likely shifted. It's important to view current listings and recent sales for an up-to-date market comparison. The renovation may have occurred after that sale, adding value.

5. Is the lot size a limitation?
At just under 5,500 sqft, the lot is smaller than many on Freemont Bay but is close to the Winnipeg average. It provides adequate backyard space for gardening or recreation but may limit the feasibility of large additions. Its size contributes to lower maintenance, which some buyers prefer.