Property Overview
This one-and-a-half storey home at 25 Glenlawn Avenue in Winnipeg's Elm Park neighbourhood presents a classic, grounded opportunity. Built in 1949, it features 1,144 sqft of living space, a detached garage, and a full, unrenovated basement on a 5,078 sqft lot. The home last sold in May 2023 for $300,000, with a current assessed value of $320,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its location within the established, tree-lined Elm Park community. The home itself is of a modest, functional size, offering a manageable footprint for a small household or first-time buyer. Its living area is typical for the immediate street and neighbourhood, suggesting it fits comfortably within the area's character.
A thoughtful perspective is that the home's "around average" metrics across the board—for both size and value in its area—indicate a stable, predictable investment without the premium of a standout feature or the discount of a major drawback. The lot, while below average in size for Elm Park, is still a substantial city parcel. The unrenovated basement represents both a cost-saving opportunity for a buyer who doesn't require finished space and clear potential for future customization. This property would suit a practical buyer looking for entry into a desirable neighbourhood, someone comfortable with a home that may require gradual updates, or an investor seeking a stable rental in a consistent area.
Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The assessed value of $320,000 is slightly higher than the May 2023 sale price of $300,000. This is not uncommon, as assessments and market prices can differ based on timing and methodology.
2. What does the "unrenovated basement" condition imply?
It typically means the basement is in original or functional condition, with finished areas likely limited to basic living space, laundry, and utilities. It may be suited for storage and mechanicals but presents an opportunity for future finishing to suit the buyer's needs.
3. Is the living space small for the neighbourhood?
At 1,144 sqft, it is slightly above the average for Glenlawn Avenue itself (1,075 sqft avg) and very close to the average for the broader Elm Park area. It is a comfortably standard size for the community.
4. What are the implications of the lot size being "below average" for Elm Park?
While the 5,078 sqft lot is smaller than many in Elm Park, it remains a generous city lot by wider standards. It offers ample yard space but may have less privacy or room for expansions than some neighbouring properties.
5. How old is this home compared to others nearby?
Built in 1949, it is newer than the average home in Elm Park (1941 avg) but slightly older than the average on its own street (1952 avg). It is a solidly mid-century home, characteristic of the neighbourhood's mature housing stock.