Property Overview
This 1907 one-and-a-half storey home on Riverton Avenue in Glenelm presents a straightforward opportunity. Its key appeal lies in its position as an affordable entry point into the Winnipeg market, particularly within a mature neighborhood. With 974 sqft of living space, it sits around the average for its immediate street but is notably compact compared to the broader city. The detached garage and full basement add practical value, though the basement is noted as unrenovated. The lot, at just under 2,500 sqft, is smaller than most in the area, suggesting lower maintenance.
The home would suit a first-time buyer, an investor, or a hands-on individual comfortable with a property that has not been fully updated. Its very low assessed value—ranking in the bottom 3% for Glenelm—indicates it is a budget-conscious option. A thoughtful perspective is that this smaller lot and home scale could mean lower utility costs and less time spent on upkeep, aligning with a simpler, more efficient lifestyle. However, it requires a buyer whose vision aligns with its vintage character and who is prepared for the projects an unrenovated basement may entail.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's specific attributes—its smaller size, older age, and unrenovated condition—relative to others. It reflects a market position as a more affordable, value-oriented property rather than a direct comparison to larger, updated homes.
2. What does "one-and-a-half storey" mean for this house?
Typically, this style features a full main floor with a second floor under a sloped roof, creating smaller or cozier rooms. For a 1907 home, this often means classic character but potentially lower ceiling heights or unique layouts on the upper level.
3. Is the smaller lot size a significant drawback?
It depends on your priorities. It limits expansive outdoor space but also means less yard work and lower property taxes relative to land value. It’s a practical fit for those not seeking extensive gardening or outdoor recreation space.
4. What can be inferred from the unrenovated basement?
This indicates the space is likely in original or functional condition, usable for storage and utilities, but not finished as living space. It represents both a potential project and a blank canvas for future expansion, subject to moisture checks and insulation needs common to older homes.
5. How reliable are the sold price ranges from 2016?
These ranges provide a historical benchmark for the property's market activity. For the most accurate and current valuation, especially given the unique market conditions since then, consulting a local real estate professional or requesting the exact sold price via the provided service is recommended.