Property Overview
This 1910 one-and-a-half storey home at 120 Hespeler Avenue in Winnipeg's Glenelm neighbourhood presents a specific and straightforward opportunity. Its key characteristic is its modest scale: with 796 sqft of living space and a 2,443 sqft lot, it is notably smaller than most homes on its street, in the area, and across the city. The assessed value is correspondingly low, ranking in the bottom tier locally. The home features a basement (not renovated) and a detached garage.
The appeal lies squarely in its position as an entry-point property in an established neighbourhood. It suits a very specific type of buyer: those seeking absolute affordability above all else, such as first-time buyers willing to take on a renovation project, or investors looking for a low-cost rental property. Its smaller size and lot also mean lower maintenance demands and utility costs, which is a practical, less obvious advantage. The charm of an older home and the potential to add value through updates are part of the draw, but the core offering is access to a neighbourhood at a minimum price point.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, older age, and the condition of the property relative to others. It is consistent with its ranking in the bottom 15% of homes on its own street for value.
2. What does "below average" for living area mean in practical terms?
With 796 sqft, the living space is significantly smaller than the typical home in Glenelm (~1,165 sqft). This indicates a compact layout, likely with fewer or smaller rooms, suited for a single person, a couple, or a small family.
3. Is the land size a disadvantage?
At 2,443 sqft, the lot is the smallest on Hespeler Avenue. This limits expansive outdoor space but can be an advantage for those seeking minimal yard upkeep. The presence of a detached garage is a positive feature within this compact footprint.
4. What can recent sold prices for the property tell me?
Public data shows it sold for an estimated range of $145k-$175k in late 2021. This historical price, along with the current low assessment, highlights its consistent positioning as an affordable property. For the exact sale price, you can request details via email from the site.
5. Who would this property not be well-suited for?
It would likely not suit buyers looking for move-in-ready condition, spacious interiors, a large yard, or a home that compares in size to neighbourhood averages. Its value proposition is rooted in potential and affordability, not in present-day size or finish.