115 Bank Avenue

Property Overview

115 Bank Avenue is a compact, one-storey home in Winnipeg's Glenwood neighbourhood. Built in 1953, its key appeal lies in its proportionally large lot—over 5,000 square feet—which is notably above average for its street and area. The home itself, at 867 square feet with a renovated basement, is modest in size and typical for the immediate locale, though below the citywide average. Its assessed value is consistent with similar homes in Glenwood.

This property suits a first-time homebuyer, an investor, or someone seeking a manageable footprint with land potential. Its appeal is grounded in the lot size, offering room for gardening, expansion, or future development in an established area. It’s a practical choice for those prioritizing land over living space in the initial purchase. A less obvious perspective is that, while the home's size is unassuming, its above-average lot for the street provides a relative scarcity value that smaller lots in the area cannot offer.

Frequently Asked Questions

1. How does the lot size compare to others nearby?
The 5,015 sqft lot is a standout feature, ranking in the top 15% on Bank Avenue itself. It offers more outdoor space than most direct neighbours and is above the Glenwood area average.

2. Is the living space suitable for a small family?
At 867 sqft on the main floor (plus renovated basement space), the living area is around the neighbourhood average but compact by wider city standards. It would suit a small family comfortable with cozy quarters or someone looking to potentially expand the footprint in the future.

3. What does the assessed value indicate about the property's standing?
The assessed value is very typical for both Bank Avenue and the broader Glenwood area, suggesting it is priced in line with local market norms and isn't an outlier for better or worse.

4. The home was built in 1953. What should I consider?
While the building is older, its construction date is actually newer than many on its street and in Glenwood. This is a relative positive, but a thorough inspection is still essential to understand the condition of its major systems and the quality of the basement renovation.

5. What is the likely price range based on recent sales?
A nearby, smaller home at 106 Pilgrim Avenue (572 sqft, built 1937) sold in the $27.5k-$30.5k range in mid-2021. Given 115 Bank Avenue's larger lot and living area, its value would logically be higher, but exact current pricing requires a professional market evaluation.