Property Overview: 120 Bank Avenue, Glenwood, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Glenwood is a solid, established property built in 1952. With 1,058 sqft of living space and a recently renovated basement, it offers functional living areas and updated utility. The detached garage and a near-5,000 sqft lot provide practical outdoor space and parking.
The home’s primary appeal lies in its strong positional value within its immediate context. The data shows it consistently ranks above average for its street and neighbourhood in key metrics like living area, assessed value, and even the year it was built compared to peers. This suggests a well-maintained property that stands favorably among its direct comparables. Its two most recent sales indicate a significant appreciation in value, pointing to a positive trajectory.
This property would suit a pragmatic buyer looking for a move-in-ready home in a mature neighbourhood without the premium of a brand-new build. It’s ideal for first-time homeowners, small families, or downsizers who value space, a quiet street, and a renovated basement for extra living area or storage. The buyer likely prioritizes solid fundamentals and neighbourhood character over high-end finishes or a massive footprint.
Frequently Asked Questions
1. How does this home truly compare to others in the area?
The data indicates it is consistently above average for Bank Avenue and the Glenwood neighbourhood in size, value, and relative age. While city-wide averages are higher, its strength is its standing within its more immediate and relevant peer group.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but the specific scope (e.g., finishing, electrical, plumbing, moisture control) is not detailed. This is a key point for a buyer to verify through a viewing and inspection.
3. Why is there a large gap between the assessed value (~$32k) and recent sold price range ($41.5k - $44.5k)?
In many regions, municipal assessed value for tax purposes often lags behind current market value. The recent sale price is a clearer reflection of what buyers were willing to pay in the 2023 market.
4. What is the significance of the sold price history?
The home sold for approximately $23.5k - $26.5k in 2016 and $41.5k - $44.5k in 2023. This shows substantial appreciation over seven years, which is a positive market indicator, though past performance does not guarantee future results.
5. Who might this property not suit?
Buyers seeking a very modern, open-concept layout or extensive square footage may find this classic one-and-a-half storey layout limiting. Those wanting a move-in condition without any immediate projects should still investigate the age and condition of major systems (roof, windows, furnace) beyond the basement renovation.