Property Overview & Key Characteristics
This one-storey home on a generous 3,415 sqft lot in Glenwood presents a classic Winnipeg character property with clear potential. Built in 1937, its primary appeal lies in its solid foundation and the valuable, sizable lot—a canvas for renovation or future expansion. The detached garage adds practical utility.
Its standout characteristic is the significant discrepancy between its very modest assessed value and its above-average lot size ranking within Winnipeg. This suggests the property is valued primarily for its land, making it a candidate for substantial modernization or even redevelopment, subject to zoning. The living space is notably compact at 572 sqft, indicating a home that would suit a minimalist, a first-time buyer comfortable with a project, or an investor looking for a strategic hold in a mature neighbourhood. Its appeal is not in move-in-ready finishes but in foundational value and opportunity.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value is significantly lower than many nearby homes, reflecting the home's original condition and smaller living area. It indicates the current value is heavily weighted toward the land itself, not the existing structure.
2. Is the small living area a major drawback?
It depends on your vision. For a single person or couple, it's a cozy footprint. However, the large lot provides a rare opportunity in the city to potentially expand the home or build an addition, transforming the property's utility.
3. The home is nearly 90 years old. What should I be most concerned about?
While systems like plumbing, electrical, and the foundation should be professionally inspected, also consider the less obvious: the efficiency of the original windows, the condition of the detached garage, and whether any previous updates meet current building codes.
4. How does this lot size compare to others in the area?
The lot is in the top 18% for size across Winnipeg, which is a key asset. In Glenwood, it ranks above average (top 26%). This larger parcel is a defining feature that sets it apart from many neighbouring properties.
5. Who would this property suit best?
It's ideally suited for a buyer who sees potential beyond the current structure—whether that's a gradual renovation, a future expansion to capitalize on the lot size, or a long-term land investment in a stable neighbourhood. It is less suited for those seeking a turnkey or spacious ready-to-move-in home.