Property Overview
111 Hespeler Avenue is a one-and-three-quarter storey home in Winnipeg's Glenelm neighbourhood, built in 1909. Its primary appeal lies in offering above-average interior space for the immediate area at a relatively accessible price point. With 1,516 square feet of living area, it ranks in the top 15% for size within Glenelm, providing more room than many neighbouring homes. However, this comes with the understanding that it is an older property with an unrenovated basement and no garage.
This home would suit a practical buyer who values space over turn-key condition, such as a handy first-time purchaser or an investor looking for a character property with rental potential. Its assessed value is notably below average for both the neighbourhood and the city, which could indicate an opportunity for value appreciation through updates, but also suggests higher immediate maintenance considerations typical of a 117-year-old structure. The lot size is standard for the street, offering typical outdoor space for the area without extra land premiums.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for municipal tax purposes and is influenced heavily by the home's age, condition, and specific market area. This home's below-average assessment for Glenelm and Winnipeg reflects its older vintage and likely the unrenovated state of the basement, not necessarily its market sale price.
2. What does "above average living area" mean in context?
While the home is spacious compared to other houses on Hespeler Avenue and in Glenelm, it's important to note that homes in this older neighbourhood tend to be more compact on average. You are getting more interior space than most nearby homes, but the floor plan may be segmented differently than in a modern build.
3. The home last sold in July 2022. What might explain a quick resale?
The provided data shows a sale roughly two years ago. Without specific details, common reasons in this price segment could include investor flipping, a change in owner circumstances, or the completion of a short-term renovation project. The exact sold price history is available by request.
4. What are the implications of having an unrenovated basement?
This typically means the basement retains its original or older-state finishes, mechanical systems, and possibly lower ceilings. It presents both a project cost and an opportunity: it allows a new owner to customize the space to their needs but will require investment to modernize for comfortable living or rental use.
5. How does the lack of a garage affect practicality in Winnipeg?
Not having a garage in a Winnipeg climate is a significant consideration for vehicle protection and winter convenience. Buyers should budget for alternative parking solutions, such as a driveway pad or a potential future shed/covered structure, and factor in additional vehicle maintenance and time for snow clearing.