Property Overview: 56 Montcalm Crescent, Garden City, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1964, presents a practical opportunity in Winnipeg's Garden City neighbourhood. With 1,480 sqft of living space and a renovated basement, it offers functional space for a smaller household or first-time buyer. The home’s primary appeal lies in its value proposition. Its assessed value is notably below average for its street, neighbourhood, and the city overall, suggesting a potentially accessible entry point into the market. The lot, while smaller than many in the area at 3,898 sqft, translates to less yard maintenance.

The property would suit a value-conscious buyer, such as a first-time purchaser or an investor, who is comfortable with a home that is modest in scale relative to its immediate surroundings. Its below-average assessment for the area could be attractive for those looking to build equity through updates, though it may also indicate a need for modernization. A thoughtful perspective is that while the home ranks lower on its own street for size and value, it ranks above average for living space within the broader Garden City context, highlighting a neighbourhood of generally larger homes where this property serves as a more manageable option.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The assessed value is significantly below the averages for Montcalm Crescent and Garden City. This typically reflects the property’s specific characteristics, such as its smaller lot and living area, its age, and its condition or level of modernization compared to neighbours. It's a key point for discussion with a real estate professional.

2. What does "renovated basement" include?
The listing notes a renovated basement, but the specifics are not detailed. Buyers should inquire about the scope, quality, permits for the work, and whether it includes a legal secondary suite or simply finished living space.

3. Is there potential to expand or add a garage?
The property has no garage and the lot is smaller than most in the area. Any expansion or addition would require careful review of lot coverage bylaws and setbacks. The smaller yard may limit options.

4. How does the sold price history inform the current value?
Public data shows a sale in late 2019 in a range of $19.5k-$22.5k. Market conditions have changed significantly since then, so this historical price is a starting point, not a direct indicator of current value. The exact price can be requested from the site.

5. The home is older—what should I budget for maintenance?
Built in 1964, major systems like the roof, plumbing, electrical, and furnace are likely at or beyond their typical lifespans. A thorough inspection is essential, and buyers should budget for updates and repairs common to homes of this era.