Property Overview: 370 Gagnon Street, Winnipeg
Section 1: Key Characteristics & Appeal
This 920 sqft condo in Glendale is a practical, entry-level property built in 1978. Its key appeal lies in its affordability and relative value within a stable neighbourhood. The home features a renovated basement, adding functional living space. Comparative data shows its living area and assessed value are below average for its immediate street but align more closely with the broader Glendale area and city-wide averages, suggesting it offers a fair proposition for the location. It would particularly suit first-time buyers, downsizers, or investors seeking a lower-priced point of entry into the Winnipeg market. A thoughtful perspective is that, while not the newest or largest on the block, its 1978 build date is actually the newest among its direct street comparables, potentially indicating simpler maintenance relative to older peers. The recent sale in 2024 also suggests a modernized transaction history.
Section 2: Frequently Asked Questions
1. Is this a good value for the money?
Based on the provided metrics, the assessed value is consistently around or slightly below average for both the Glendale area and city-wide, while the living space is near the city average. This indicates you are likely paying for the space and location rather than premium finishes or size, which can represent solid value for a budget-conscious buyer.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent to understand if it's a finished living space, a modernized utility area, or includes legal secondary suite potential.
3. How does the 2024 sale price compare to the assessed value?
The sold price range in August 2024 ($22.5k - $25.5k) aligns very closely with the current assessed value of $22.5k. This recent history suggests the assessment is current and the market has validated this price point.
4. What are the condo fees and what do they cover?
This critical information is not included in the provided data. You must obtain a full disclosure of the monthly condo fees and a breakdown of what amenities or costs (e.g., building insurance, exterior maintenance, reserve fund) they cover.
5. How does it rank for year built, and why does that matter?
The home ranks in the top 17% (newest) on its own street but around the 53rd-66th percentile in the wider area and city. This means on its specific block, it's one of the newer homes, which can be an advantage. However, compared to all Winnipeg homes, it's older than average, so a thorough inspection of major systems (roof, windows, plumbing) for a 48-year-old building is essential.