57 Riverton Avenue

Property Summary: 57 Riverton Avenue, Glenelm, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1906, situated on a modest lot in the Glenelm neighborhood. Its key characteristic is its exceptionally small scale: with just 525 sqft of living space, it is among the smallest homes not just on its street, but in the entire city. The assessed value is correspondingly low at $130k. The appeal lies squarely in its potential as an affordable entry point into homeownership or as a minimal-footprint investment. It suits a very specific buyer: someone seeking the lowest possible price for a detached house, willing to undertake a significant renovation or comfortable with a truly minimalist lifestyle. It could also appeal to an investor looking for a rental property with very low property tax overhead. A less obvious perspective is that a home of this size and vintage offers a rare opportunity to reimagine a living space from the ground up with modern, efficient design, potentially creating a highly functional and low-cost custom home without the expense of a large footprint.

Section 2: Frequently Asked Questions

1. Why is the living space so small?
At 525 sqft, this is a historically small worker’s cottage, common in early 20th-century neighborhoods. Its size places it in the bottom 1% of homes citywide.

2. What does the low assessed value mean for property taxes?
A $130k assessment will result in significantly lower annual property taxes compared to the Winnipeg average, which is a key financial consideration for budget-conscious owners or investors.

3. Is this a tear-down or a renovation project?
Given its age, size, and value, the property is likely a candidate for a major renovation or complete rebuild. Its value is primarily in the land and the opportunity it presents.

4. How recent is the sale history, and what did it sell for?
The most recent recorded sale was in February 2021, with a public price range between $5.5k and $8.5k. This very low price suggests it may have been sold as a vacant lot or in uninhabitable condition.

5. What is the Glenelm neighborhood like?
Glenelm is an established, central neighborhood with homes spanning many decades. This property sits among larger, older homes, offering a quiet, residential setting with the trade-off of being a notably smaller and older property on its block.