Property Overview: 117 Riverton Avenue, Glenelm, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-a-half storey home built in 1912, offering a modest 1,054 sqft of living space on a smaller, 2,502 sqft lot in the established Glenelm neighbourhood. Its key appeal lies in its position as an accessible entry point into a mature community. The home presents a straightforward, no-frills opportunity: it has a basement, but it is not renovated, and there is no garage or pool. The assessed value is notably low compared to area averages, which typically signals a property in need of updates or presenting a value-based project.
This home would best suit a specific type of buyer. It’s a clear match for a hands-on first-time buyer, an investor, or a renovator looking for a lower initial cost with the intention of adding value over time. Its smaller scale and lot size also mean lower maintenance demands, which could appeal to a downsizer seeking simplicity in a well-located neighbourhood. A less obvious perspective is that the home’s below-average metrics across the board (value, land size) for Glenelm might actually represent a chance to own in the area without the premium price of its more updated or larger neighbours, offering a chance to build equity through strategic improvements.
Frequently Asked Questions
1. Why is the assessed value so much lower than area averages?
A significantly lower assessment often indicates a home that has not been recently updated or may have features that are simpler than surrounding properties. It reflects the city’s valuation of the property in its current condition, not a market sale price.
2. What does "basement, not renovated" imply?
This typically means the basement is functional and usable for storage or utilities but has not been finished into a modern living space like a rec room or suite. Buyers should budget for potential updates and consider it a blank canvas or utility space.
3. Is the smaller lot size a major drawback?
It depends on your priorities. A smaller lot means less yard maintenance and can be a benefit for those seeking low upkeep. However, it offers less private outdoor space and less potential for expansions like a large addition or garage.
4. How does the age of the home (1912) affect things?
Homes of this vintage have character and are often solidly built, but they commonly require attention to older systems like wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition and any needed upgrades.
5. Can I get the exact historical sale price?
The listed sale price is a range based on public data. The exact sale price is available by request via email from the listing service, which they provide manually without using your email for marketing.