Property Overview: 111 Martin Avenue W, Glenelm, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1936, presents a classic Glenelm character home with practical updates. Its key feature is a recently renovated basement, adding valuable finished living space to the 800 sqft main footprint. The property includes a detached garage and sits on a 2,699 sqft lot.
The appeal lies in its position as a well-priced entry point into a mature, established neighbourhood. The home's assessed value ranks above average for its immediate street, suggesting it is viewed favorably within its local context. It suits first-time homebuyers, downsizers, or investors looking for a character home with some modern practicality (the renovated basement) without a premium price tag. It’s a "right-sized" property for those who value location and community over sheer square footage, offering a manageable footprint and yard.
A less obvious perspective is the potential for value stability. While smaller than area averages, its above-street-average assessment indicates it may hold its value well within the micro-market of Martin Avenue W, which can be a buffer against broader market fluctuations.
Section 2: Frequently Asked Questions
1. How does the living space compare to nearby homes?
At 800 sqft, the living area is below the average for both the Glenelm neighbourhood and Winnipeg overall. However, it is closer to the average for homes on Martin Avenue W itself. The renovated basement provides additional functional space.
2. What does the assessed value tell us?
The assessed value of $24,800 is notably above the street average, which often indicates the property has features or conditions that the assessor views favorably compared to its direct neighbours, such as its renovated basement.
3. Is the lot size typical for the area?
The 2,699 sqft lot is slightly below the average for Martin Avenue W and more notably below the averages for Glenelm and the city. This is common for older, central neighbourhoods and results in a lower-maintenance yard.
4. What can recent sale history indicate?
The home sold in July 2021 for an estimated $22,500-$25,500. This historical price aligns closely with its current assessed value, suggesting a stable valuation in recent years.
5. Who might this property not suit?
Buyers needing significant space, a modern open-concept layout, or a large private yard may find this home limiting. It is best suited for those comfortable with the layout of a classic, compact character home.