Property Overview: 118 Riverton Avenue, Glenelm, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1910, presenting a unique and highly affordable entry point into Winnipeg’s Glenelm neighborhood. Its key characteristic is its modest scale: with 620 sqft of living space and a 2,498 sqft lot, it is significantly smaller than most homes on its street, in the area, and across the city. This is reflected in its very low municipal assessed value.
The primary appeal lies in its potential as a minimal-footprint starter home or a strategic investment property in an established, central neighborhood. It suits a very specific type of buyer: a hands-on individual or investor looking for the lowest possible price point to get into the market, who is comfortable with a project. The detached garage adds practical value. A less obvious perspective is that its small size and low taxes could appeal to someone seeking a simplified, low-cost lifestyle without leaving the city, or to an investor considering it as a long-term hold in a neighborhood that may see incremental renewal.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based primarily on the home's very small size (square footage) and its unrenovated state compared to typical area homes, resulting in a valuation far below averages for the street, neighborhood, and city.
2. What should I budget beyond the purchase price?
Given the home's age and the note that the basement is "not renovated," buyers should budget for immediate maintenance, potential updates, and possibly foundational or system repairs common to houses of this vintage. Its small size may keep some renovation costs proportionally lower.
3. Is this a good investment?
As an investment, it offers a very low entry cost. The potential for value increase would likely depend on strategic renovations and overall market trends in Glenelm. Its rental appeal may be to tenants seeking single-level, low-rent options.
4. How does the small lot size impact the property?
The lot is smaller than most in the area, which means less outdoor space for gardening or expansion. However, it also translates to less maintenance and lower landscaping costs, which some buyers may prefer.
5. Can I get the exact historical sale price?
The listed sale price is a public data range. The exact sale price from September 2019 is available by request directly from SaveOnHouse via the email link provided on the property page.