Property Overview: 111 Larchdale Crescent, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic, one-storey home built in 1959 on a spacious 6,564 sqft lot in the Kildonan Drive area. With 1,065 sqft of living space, a detached garage, and an unfinished basement, it presents a straightforward, functional layout. The home’s primary appeal lies in its value proposition and potential. Its assessed value is modest relative to the city and area averages, suggesting an accessible entry point into the market. The lot size is notably above average citywide, offering valuable outdoor space that is increasingly rare. This property is ideally suited for first-time buyers, practical downsizers, or value-focused investors who see potential in a home that hasn’t been fully renovated. It’s for someone comfortable with a property that may require updates, prioritizing lot size and location over modern finishes. A less obvious perspective is that the unfinished basement and lack of prior major renovations could be a benefit, allowing the next owner to customize the space without first undoing someone else’s dated projects.

Section 2: Frequently Asked Questions

1. Is this a "fixer-upper"?
While the basement is noted as unfinished, the property data doesn’t specify the condition of the main living areas. It’s a home from 1959 that likely benefits from some modernization, but its solid assessed value and recent sale indicate it is liveable as-is.

2. How does the lot size compare?
The lot is a key feature. At 6,564 sqft, it is larger than the average Winnipeg lot, providing ample yard space for gardening, recreation, or future expansion, which adds significant long-term value.

3. What does the "below average" living area ranking mean for the street?
On Larchdale Crescent itself, this home’s living area is smaller than most of its immediate neighbors. This suggests the street may have larger homes overall, but it also means this property could be one of the more affordable options on the block.

4. Why is the assessed value so much lower than recent sold prices?
The assessed value is for municipal tax purposes and is often lower than market value. The sold price range from July 2024 ($375k-$405k) reflects what buyers were actually willing to pay in the current market.

5. What is the likely buyer competition for this home?
Given its profile, it would attract budget-conscious buyers, including families looking for a large yard, and investors. Its modest size and unfinished areas might make it less appealing to buyers seeking a turn-key property, potentially reducing bidding wars.