115 Blenheim Avenue

Property Overview & Key Characteristics

115 Blenheim Avenue presents a unique proposition in Winnipeg's Glenwood neighbourhood. Its primary appeal lies in its land value, featuring a lot size that ranks in the top 1% on its street and the top 6% city-wide. This suggests significant potential for future development or expansion, making it a standout for its parcel size rather than an existing structure. The assessed value is notably low compared to nearby properties, which may indicate a home in need of substantial updating or a land value assessment for a very modest structure.

This property would suit a specific type of buyer: investors, builders, or hands-on purchasers looking for a value-add opportunity where the land is the primary asset. It’s less suited for someone seeking a move-in-ready home. A thoughtful perspective here is that this listing could represent a chance to shape a property from the ground up in an established area, offering more creative control than a typical renovated home, but requiring vision and resources.

Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbouring homes?
The significantly lower assessed value, especially compared to reference homes on the same street, typically indicates a smaller, older, or more modest structure on the lot, or that the property is assessed largely for its land value due to the condition of the building.

2. What does the land size ranking actually mean for me?
Ranking in the top 1% on the street and top 6% in Winnipeg for lot size means you are getting a larger-than-average parcel of land for the area. This is the property's key feature, offering potential for additions, a new build, or more outdoor space.

3. Is this a teardown or renovation project?
Given the low assessed value alongside a premium lot size, it is very likely a candidate for a major renovation or complete redevelopment. Prospective buyers should budget and plan for significant construction work.

4. How does the lack of data for Year Built and Living Area affect my decision?
Missing this core data usually means the information is not readily available in municipal records, which is common for very old homes or properties with unpermitted additions. It is essential to verify these details through a physical inspection and potentially a survey.

5. The "similar assessed value" properties are in different neighbourhoods. Is this a fair comparison?
These listings are matched by municipal assessment value only, not by land size or potential. They highlight that at this price point, you may be comparing a large lot in Glenwood to condos or smaller homes in other areas, underscoring the unique land-value proposition of 115 Blenheim.