Property Summary: 73 Riverton Avenue, Glenelm, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey character home built in 1908, situated on a standard-sized lot in the Glenelm neighbourhood. Its primary appeal lies in its balance of historic charm and practical updates, notably a renovated basement. At 680 sq ft, the living space is notably smaller than most homes in the area and city-wide, positioning this property as an efficient, low-maintenance footprint.
The home’s assessed value is relatively strong for its immediate street and neighbourhood, suggesting it is well-maintained or updated compared to similar local properties. This creates an interesting dynamic: you are purchasing a smaller-than-average home, but one that holds its value well within its specific context. The detached garage adds practical utility.
This property would best suit a first-time buyer, downsizer, or pragmatic investor seeking an entry into a character neighbourhood without the upkeep of a larger house. It appeals to those who prioritize location and lot potential over interior square footage, and who see the value in a home that has already undergone key renovations like the basement.
Frequently Asked Questions
1. Is the house too small?
At 680 sq ft, it is significantly smaller than the average Winnipeg home. This requires a minimalist lifestyle or creative use of space, but the renovated basement adds functional area. It’s a trade-off for lower maintenance and cost.
2. How does the assessed value compare to the likely selling price?
The assessed value ($24.9k) is a municipal figure for tax purposes and is not an indicator of market value. Market value is determined by recent sales of comparable properties, location, and condition.
3. What does the sold price history from 2017 tell us?
The 2017 sale (in the $19.5k-$22.5k range) shows a historical baseline. The current assessed value being higher may reflect the basement renovation and market changes, but current conditions and upgrades will determine today’s price.
4. Is an older home like this a concern?
Built in 1908, major systems (roof, wiring, plumbing, foundation) should be thoroughly inspected. The age is typical for Glenelm, and a renovated basement is a positive, but potential maintenance costs should be budgeted for.
5. What are the advantages of the lot size?
At 3,754 sq ft, the lot is slightly above average for Glenelm. This offers good outdoor space for a home of this size and potential for gardening, expansion, or adding a patio/deck, which adds valuable flexibility.