Property Overview
This one-and-three-quarter storey home on Vivian Avenue in Winnipeg's Glenwood neighborhood presents a specific and practical value proposition. Its key appeal lies in being a more affordable entry point into the market, particularly for the area. With 1,116 square feet of living space, the home offers a functional layout that is slightly above average for its immediate street and neighborhood. A renovated basement adds usable space and modern convenience. The lot, while smaller than many in the wider city, is a manageable size for the street.
The property’s characteristics suggest it is best suited for first-time buyers, downsizers, or practical investors seeking a lower-maintenance footprint. Its assessed value is notably below averages for the street, neighborhood, and city, indicating a potentially lower property tax burden and an accessible price point. The trade-off is an older home (built in 1922) that may require updates beyond the basement, and a lack of a garage. Its value is in its location, solid foundation, and the opportunity it represents for those comfortable with a character home that prioritizes function and affordability over size or modern finishes.
Frequently Asked Questions
1. What does the assessed value being "below average" really mean?
It primarily indicates a lower municipal assessment for property tax purposes compared to other homes. This can be a significant ongoing savings. It often reflects the home's age, smaller lot, and lack of features like a garage, but doesn't necessarily predict its final sale price.
2. Is the smaller lot a major drawback?
It depends on your lifestyle. For those who want minimal yard work or are not planning extensive outdoor living, it’s an advantage. However, it limits potential for large additions, pools, or extensive landscaping.
3. What should I consider with a home from 1922?
While the basement is renovated, the main systems (plumbing, electrical, roof, insulation) may be older or have been updated at different times. A thorough inspection is crucial to understand the condition of these core components and plan for future maintenance.
4. Who would this home not be ideal for?
It may not suit buyers looking for a large, modern, turn-key property, those who require a garage for vehicle storage or a workshop, or families desiring a large backyard for play.
5. The data shows it sold in 2019. How useful is that price today?
The 2019 sale price provides a historical benchmark, but market conditions have likely shifted. It's most useful for understanding the property's previous market trajectory, not for determining its current value, which will be driven by today's market dynamics and the home's present condition.