Property Overview: 98 Cedargrove Crescent, Winnipeg

Section 1: Key Characteristics & Appeal

This 895 sqft bungalow, built in 1986, sits on a 3,761 sqft lot in the Mission Gardens neighbourhood. Its core appeal lies in being a manageable, entry-level property within a stable, established area. The home is notably compact compared to local and city-wide averages, which translates to lower maintenance and utility costs—a practical advantage for certain buyers.

The data reveals a nuanced position. While the living space is modest, the home is newer than many on its street and across Winnipeg, potentially suggesting fewer major age-related concerns than older stock. Its most defining characteristic is its assessed value ($28,400), which is the lowest on Cedargrove Crescent and well below area averages. This indicates a significant value opportunity for a buyer willing to invest in updates, or a chance for a low-cost entry into the neighbourhood. The recent sale in the $250k-$300k range aligns with this picture of a home priced for its condition and size.

This property would best suit a first-time buyer, an investor looking for a rental property, or a downsizer seeking a low-maintenance footprint. It’s a practical choice for someone prioritizing location and lot ownership over immediate move-in readiness or spaciousness, with the understanding that personalization may be part of the journey.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the recent sale price?
Assessed value is for municipal tax purposes and often lags behind market value. The sale price reflects what a buyer recently paid in the open market, considering factors like condition, updates, and current demand, which aren’t fully captured in the assessment.

2. Is the smaller living area a major drawback?
It depends on your needs. The size is efficient and cost-effective to maintain, but it may feel cramped for a growing family. For a single person, couple, or as an investment, the smaller space can be a functional and economical advantage.

3. What does the "newer than average" year built mean for me?
Built in 1986, this home is newer than many in Winnipeg. This can be positive, as major components like wiring, plumbing, and the roof may have more modern standards and potentially more remaining lifespan than in homes built decades earlier, though a specific inspection is still essential.

4. How does the lot size compare, and what does it offer?
At 3,761 sqft, the lot is smaller than most in the area. This means less yard maintenance but also less private outdoor space. The appeal here is owning land in a neighbourhood, not necessarily having a large yard.

5. The home sold recently. What should I consider?
A recent sale suggests the market has already validated the price point. It’s important to find out why it’s back on the market so soon—whether it’s an investor flipping it, a change of circumstance, or something else. This history doesn’t inherently indicate a problem, but understanding the context is wise.