187 Reay Crescent

Property Overview: 187 Reay Crescent, Valley Gardens, Winnipeg

Key Characteristics & Appeal

This well-situated, one-storey home in Valley Gardens offers practical living on a generous, mature lot. Its key characteristics include a renovated basement, detached garage, and 1,050 sqft of living space in a 1974-built bungalow. The lot size of 5,788 sqft is notably above average for the street and neighbourhood, providing ample outdoor space.

The appeal lies in its solid, move-in-ready foundation with room for personalization. The home ranks highly for its newer build year relative to the street and holds an assessed value that places it in the top tiers of the immediate area, suggesting a history of maintained value. It particularly suits first-time buyers or downsizers seeking single-level living without a condo fee, or investors attracted to a stable neighbourhood with proven resale activity, as evidenced by sales in 2016 and 2023. A thoughtful perspective is the value of the lot itself; in a neighbourhood of older homes, this larger parcel offers future potential for expansion or landscaping that smaller, newer lots often cannot.

Frequently Asked Questions

1. How does the property’s value compare to recent sales?
The home last sold in April 2023 for $391,000, which is above its current $360,000 assessed value. This indicates a market sale relatively recent, and any offer would likely be negotiated with that recent sale price in mind.

2. Is the house larger or smaller than others nearby?
At 1,050 sqft, the living area is very close to the neighbourhood median, offering standard space for the area. However, the land area is significantly larger than over half the properties on the street, which is a distinct advantage.

3. What is the neighbourhood like for families or quiet living?
Valley Gardens is an established, mature neighbourhood. The property rankings show consistent mid-to-upper performance for metrics like assessed value within the area, suggesting a stable, desirable community without extreme highs or lows.

4. What might the “renovated basement” include?
The listing confirms a renovated basement but does not specify finishes or layout. This should be verified in a viewing to understand if it’s a modern living space, a rental suite, or updated utility and storage areas.

5. Are there any obvious concerns from the public data?
The data shows no obvious red flags. The home has changed hands twice in eight years, which is normal turnover. One point to note is that while the build year is newer than most on its street, it is slightly older than the Winnipeg average, so a thorough inspection of original components (like roofing or windows) is always recommended.