21 Crestwood Crescent – Property Summary

Key Characteristics & Buyer Profile

This is a home where the standout feature isn't the house itself, but the land it sits on. The living area is 816 square feet, which is notably smaller than the average for the street, neighbourhood (Windsor Park), and city. The house was built in 1959, placing it right around the median age for the area. The assessed value of $317,000 is below the neighbourhood and city averages, reflecting the modest size of the structure.

The lot, however, is the main draw. At 7,834 square feet, it ranks in the top 7% on Crestwood Crescent and the top 6% within Windsor Park. This size is uncommon and provides significant outdoor space that most nearby properties lack.

The appeal here is not a move-in-ready, updated home. It lies in the potential of a large, well-located parcel of land in a central Winnipeg neighbourhood. This property would best suit a buyer who is comfortable with a smaller living space or who is planning a substantial renovation, addition, or even a new build. It’s a fit for someone who values yard space and long-term property value over current square footage and interior finishes. The low living area relative to the lot size suggests a buyer is paying for land, not the house.

Five Possible FAQs

1. Why is the living area so much smaller than average, but the lot is so large?
The house was built in 1959, a time when smaller, more utilitarian homes were common on generous lots in this part of Winnipeg. The property reflects a classic “starter home” footprint on a deep, wide parcel. Today, the value is largely in the land, which gives options for expansion or redevelopment.

2. How does the assessed value compare to the asking price?
The assessed value is $317,000, which is below the neighbourhood average of $354,200 and the city average of $390,100. This assessment reflects the condition and size of the existing house. The asking price may be higher or lower than this figure, but the assessment is a useful benchmark for property tax calculations, not necessarily market value.

3. What are the realistic options for the property if I want to maximize the lot?
Depending on zoning, typical options include a major addition to the existing home, building a garage or secondary structure, or a complete teardown and rebuild. Because the lot size stands out in the neighbourhood, any significant change will likely require a variance or permit review, so checking with the city’s planning department early is advisable.

4. Is Windsor Park a desirable neighbourhood for resale?
Windsor Park is a well-established, stable area with a mix of older homes and newer infills. It tends to attract families and buyers looking for good-value properties close to amenities. The large lot here is a rarity in the area, which could make it a strong resale asset, especially if the housing market favours land value over finished square footage.

5. What does “ranked #142 out of 149” for living area actually mean for me?
It means that on this street alone, only 7 homes have a smaller living area. You have one of the smallest houses on the block. This isn’t necessarily negative, but it means that any comparable sale analysis should focus on land value and lot size, not just the house itself. It’s also a clue that neighbours may have already renovated or expanded their homes.