70 Mayfield Crescent

Property Overview: 70 Mayfield Crescent, Winnipeg

Section 1: Key Characteristics & Appeal

This well-established two-storey home in Elmhurst offers a compelling blend of space, modern updates, and a quiet neighbourhood setting. Built in 1988, the property stands out for its generous 2,341 sqft of living space, which is notably larger than most homes in Winnipeg, ranking in the top 4% city-wide. It sits on a good-sized lot of over 5,500 sqft and features a finished basement and an attached garage.

The appeal lies in its proven move-in readiness and strong fundamentals. A recent sale in May 2023 at $690,000 suggests a home that has been competitively valued and likely updated for today's market. The data indicates it's a property that outperforms most in its immediate area for size and value, yet it remains in a community with a mix of older and newer homes, offering a grounded, established streetscape.

This home would best suit buyers looking for ample interior space without the maintenance of a brand-new build. It’s ideal for a growing family who values neighbourhood character and appreciates a home with a recent sales history, providing a clear benchmark. It also appeals to the practical buyer who prioritizes quantifiable metrics—like ranking in the top tier for living area and assessed value within its community—over sheer newness.

Section 2: Frequently Asked Questions

1. What do the ranking percentages actually mean?
They show how this property compares to others in specific geographic areas. For example, ranking in the "top 4%" for living area in Winnipeg means 96% of city homes are smaller. It's a quick way to gauge the home's relative size, value, and age against the market.

2. The home was just sold in 2023. Why is it back on the market?
While the specific reason isn't provided here, a quick resale can sometimes indicate a job relocation, a change in family circumstances, or an investor flipping the property. It's a valid question to pose to the listing agent, as the recent transaction also provides a very current and relevant price point for comparison.

3. How might the 1988 build year affect the home?
A home from this era often benefits from modernized layouts and wiring compared to much older stock, but key components like the roof, windows, and major mechanical systems (furnace, A/C) may be nearing or due for updates. A thorough inspection is advised to assess their remaining lifespan.

4. The lot size ranks lower than the home's size. Is that a concern?
Not necessarily. The lot is still a standard suburban size. The high ranking for living area simply means the house itself makes very efficient use of the space. For some buyers, a larger home on a proportional lot is preferable to a smaller home on a vast yard.

5. Does a high assessed value compared to neighbours mean higher property taxes?
Typically, yes. The municipal assessment of $585,000 is used to calculate your property tax bill. It's worth noting that the 2023 sale price was significantly higher, which the city may eventually use to adjust future assessments, potentially leading to a tax increase.