Property Overview: 120 Noble Avenue, Glenelm, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a modern, 2020-built bi-level home in Winnipeg's Glenelm neighborhood, offering a unique proposition in an area dominated by much older housing stock. With 1,087 sqft of living space and an unrenovated basement, it presents as a functional, low-maintenance blank canvas. Its standout feature is its exceptionally low assessed value of $35.30k, which ranks in the top 1% on its own street and top 8% in Glenelm—this suggests a very favorable property tax situation compared to both neighbors and the city average. The lot is a standard urban size for the area.
The appeal lies in its combination of new-build convenience and remarkable tax efficiency. It suits a pragmatic, value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes modern systems and low carrying costs over ornate character or large square footage. It’s a practical choice for someone wanting a foothold in a established neighborhood without the maintenance worries or tax burden of a century home. A less obvious perspective is that this property could appeal to those looking for "under-improved" land; the new structure on a modest lot with a low assessment might represent a strategic long-term hold in a transitioning area.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical city homes?
Property assessments are based on market value and comparable sales. This home’s assessment reflects its specific characteristics (size, age relative to neighborhood, basement condition) and the values of similar properties in its immediate area, not city-wide averages.
2. What does "basement, not renovated" imply?
It indicates the lower level is unfinished or in a basic, utilitarian state. This offers flexibility to customize the space to your needs but requires an investment to finish it as living area.
3. How does the 2020 build year affect insurance and maintenance?
A newer build typically means modern construction standards, newer major systems (roof, HVAC, wiring), and potentially lower insurance premiums and near-term maintenance costs compared to the neighborhood's older homes.
4. Is the low assessed value locked in because it's a new build?
No. Assessments are periodically updated. While its current value is low relative to the city, it will be reassessed based on future market conditions and sales of comparable properties.
5. What are the implications of having no garage?
This means all parking will be on-street or possibly via a driveway if space permits. It’s a common feature in the area but is a consideration for vehicle storage and winter convenience.