Property Overview: 60 Martin Avenue W, Glenelm, Winnipeg
Key Characteristics & Appeal
This one-storey home in the established Glenelm neighborhood presents a practical opportunity. Its key characteristic is a clear value proposition: with an assessed value of $280,000, it ranks well above average for its street and neighborhood, yet its 850 sqft living area is modest and below the area average. This suggests the value is anchored in the location and lot rather than sheer size. The home features a renovated basement and a detached garage on a 2,700 sqft lot, which is standard for the street but smaller than many in wider Winnipeg.
The appeal lies in its efficiency and position within a sought-after community. It suits a specific buyer: someone seeking an entry point into a mature neighborhood like Glenelm without a massive footprint or premium for excessive space. It’s ideal for a first-time homebuyer, a downsizer, or an investor looking for a manageable property in a stable area. A less obvious perspective is that its "below average" size city-wide can be an advantage, offering lower utility costs and less maintenance, which aligns with a practical, budget-conscious lifestyle without sacrificing the benefits of a good location.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in May 2016 for an estimated $19.5k-$22.5k. The current $280,000 assessment is significantly higher, reflecting market-wide increases over the past decade. It's essential to get a current market evaluation to understand today's likely selling price.
2. Is the living space sufficient for a small family?
At 850 sqft above grade, the space is compact. The renovated basement provides crucial additional living area, making it more viable for a small family or couple. Buyers should consider if the layout and total finished space meet their long-term needs.
3. What are the implications of the home's age (built 1922)?
While the home is over a century old, its age is typical for Glenelm. This often means character but also necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation updates to anticipate maintenance or modernization costs.
4. How does the lot size impact future plans?
The 2,700 sqft lot is average for Martin Avenue W but smaller than many city lots. This may limit possibilities for large additions or sprawling outdoor amenities. However, it also means less yard work and may be perfect for those seeking a low-maintenance outdoor space.
5. Why is the assessed value ranked so much higher than the living area?
This discrepancy highlights that property value isn't determined by square footage alone. The high ranking in assessed value for the street and neighborhood suggests factors like the renovated basement, the desirable Glenelm location, and the overall condition of the property are significant contributors to its worth.