Property Summary: 136 Bank Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1951, situated on a roughly 5,000 sqft lot in the Glenwood neighborhood. With 696 sqft of living space, it is notably smaller than most homes in Winnipeg, placing it in the top 96% for size city-wide (meaning only 4% of homes are smaller). Its assessed value is modest and aligns closely with the average for its immediate street and area. A key updated feature is a renovated basement, adding functional space. There is no garage or pool.
The primary appeal lies in its efficiency and lot potential. It represents a true entry-point into homeownership, with property taxes likely to be lower due to its assessed value. The renovated basement improves its move-in readiness for a small household. The lot size is generous for the area, offering valuable outdoor space or future expansion potential that the current home's footprint does not utilize. This property would best suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance living arrangement without the upkeep of a larger house.
Frequently Asked Questions
1. Is the living area too small for practical use?
At 696 sqft, the above-ground living space is compact. Its practicality depends heavily on the renovated basement, which provides crucial additional room. It's ideal for 1-2 people comfortable with efficient living.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and the market values within its specific neighborhood. It indicates a more affordable entry point, but also suggests the value is primarily in the land rather than the existing structure.
3. What does the "top 96%" ranking for living area mean?
This statistic means that 96% of homes in Winnipeg are larger. It clearly highlights this as a smaller-than-average property, which is a key consideration for space needs but also correlates with lower utility costs and maintenance.
4. Does the renovated basement add significant value?
Yes. In a home of this size, a finished basement effectively doubles the usable living space, making the property significantly more functional and comfortable than the main floor square footage alone would allow.
5. What are the implications of having no garage?
This means parking will be on-street or possibly via a driveway if one exists (not specified in the data). Buyers should budget for potential parking permits and consider vehicle security and winter weather implications.