156 Stranmillis Avenue

Property Overview: 156 Stranmillis Avenue, Glenwood

Section 1: Key Characteristics & Appeal

This one-storey home in Glenwood is defined by a compelling contrast: a modest, renovated 744 sqft house on a notably generous 5,100 sqft lot. Built in 1937, its living space is below average for the area, suggesting a cozy, efficient layout. The appeal lies squarely in its land value and potential. The lot size ranks in the top 13% on its own street and top 28% in Glenwood, offering rare space for gardening, expansion, or future development in a mature neighborhood. With a recently renovated basement and a detached garage, it presents a practical, low-maintenance living option.

This property would suit a first-time buyer or downsizer seeking an affordable entry into a well-established area, with the lot size providing a tangible asset. It’s equally suited to a long-term investor or visionary buyer who sees the underlying value in the land itself, perhaps for a future rebuild, addition, or simply as a hedge where the land constitutes a significant portion of the property's worth.

Section 2: Frequently Asked Questions

1. Is the house in good condition?
The listing notes a renovated basement, suggesting updates have been made. However, as a home from 1937, a thorough inspection is essential to understand the condition of major systems like plumbing, electrical, and the foundation.

2. Why is the assessed value relatively low?
The assessed value reflects the official valuation for tax purposes, which often weighs the age and smaller size of the dwelling. It may not fully capture the market premium for the large lot or recent renovations, so it should not be used as the sole indicator of market price.

3. Can the house be expanded or rebuilt?
The large lot certainly provides the space for potential expansion or redevelopment. Any buyer considering this would need to consult the City of Winnipeg’s zoning bylaws and obtain the necessary permits to understand the specific possibilities and limitations.

4. How does the sold price history inform the current value?
Recent sold prices show a range, indicating market activity. The increase from late 2022 to early 2024 suggests appreciating interest or value. This history provides a trend line, but the current market conditions and the property’s unique lot size will be the ultimate determinants.

5. What is the neighborhood like?
Glenwood is a mature, established neighborhood. The proximity to nearby properties on the same avenue indicates a typical residential setting. Researching local amenities, traffic patterns, and community plans would provide a fuller picture of daily life in the area.