Property Overview
This one-storey home at 54 Glenlawn Avenue in Winnipeg's Elm Park neighbourhood presents a specific and practical opportunity. Its key characteristic is its compact size, with 765 sqft of living space, which is notably smaller than most homes on its street and in the area. This is balanced by a renovated basement and a detached garage on a standard city lot of just over 5,200 sqft. Built in 1949, the home is older than many in Elm Park but typical for its street.
The appeal lies in its efficiency and potential as an affordable entry point into a well-established neighbourhood. It suits buyers looking for a manageable, low-maintenance footprint without the upkeep of a larger house—ideal for a first-time buyer, a downsizer, or an investor. The renovated basement adds functional space, a valuable asset in a smaller home. A thoughtful perspective is that while the house itself is modest, you are purchasing the land and location within a mature community, which often holds long-term value. Its below-average assessed value relative to the immediate area suggests a potentially lower property tax burden, an important but less obvious financial consideration.
Frequently Asked Questions
Is the house too small?
At 765 sqft, it is significantly smaller than the neighbourhood average. It will suit those who prioritize efficient living and lower utility costs, but may feel cramped for those needing multiple dedicated rooms or extensive storage.
What does "renovated basement" mean?
The listing confirms the basement is renovated but does not specify the extent or quality. A professional inspection is recommended to understand the finish, ceiling height, moisture control, and whether it's a legal suite or simply finished living space.
How does the assessed value compare to the sale price?
The home last sold in August 2022 for $32,500 and currently carries an assessed value of $30,700. This close alignment suggests municipal assessment is in step with recent market activity, but the current market value will be determined by today's conditions.
What is Elm Park like as a neighbourhood?
Elm Park is a mature, central Winnipeg neighbourhood. The property's metrics show it sits among older, varied homes, indicating a long-established, stable community character rather than a new subdivision.
Is the detached garage a major benefit?
Yes, especially for a smaller home. A detached garage provides essential storage for vehicles and seasonal items, freeing up the compact living area inside the house. It is a practical asset not all older, smaller homes possess.