Property Overview
This one-storey home at 16 Fifth Avenue in Winnipeg's Glenwood neighborhood presents a specific and compelling opportunity. Built in 1910, it is a character property with a renovated basement and a detached garage. Its appeal lies in a unique balance: it offers a very large, above-average lot in a setting where home sizes and values are generally modest and in line with area averages. This isn't a move-in-ready modern showhome, but a property with clear foundations for value.
Key Characteristics & Appeal
The standout feature is the 6,149 sqft lot, which ranks in the top 3% on its own street and top 7% in Glenwood. This generous outdoor space is a rare find and offers significant potential for gardening, expansion, or simply enjoying ample privacy in a mature neighborhood. The living space (1,146 sqft) and assessed value are consistently around the average for the immediate area, suggesting the home is priced accessibly within its market context.
The home’s appeal is grounded in practicality and potential. It suits a hands-on buyer who values space over pristine condition—someone looking for a character home with a large yard who is comfortable with the maintenance or gradual updates a 1910-built house may require. It would also appeal to a value-oriented purchaser who understands that the land itself represents a substantial portion of the asset here. The renovated basement adds functional living space, making the overall package more versatile for a small family, a couple, or an investor.
Frequently Asked Questions
1. What does the "around average" ranking for value and living area mean?
It indicates the home is priced and sized very typically for Fifth Avenue and Glenwood. You are not paying a premium for extra interior space or finishes, but you're also not buying an outlier. The value proposition is centered on the lot size and the baseline living space.
2. Are there concerns with a house built in 1910?
While the renovated basement is a positive update, a home of this age will likely have older core systems (like plumbing, electrical, and insulation) unless they have been documented as fully updated. A thorough inspection is essential to understand the condition and plan for any necessary upgrades.
3. How significant is the lot size practically?
A lot of over 6,000 sqft is notably larger than most in the area. This provides excellent outdoor space, greater distance from neighbors, and future potential (subject to zoning) for additions, a larger garage, or even subdivision if local regulations allow.
4. The last sold price range shows $24.5k - $27.5k in 2021, but the assessed value is now $31.3k. Why the difference?
Assessed value is for municipal tax purposes and can lag behind or differ from market value. The sold price from 2021 reflects the market at that time. The current asking price will be determined by today's market conditions, the property's state, and its unique lot advantage.
5. What is the neighborhood (Glenwood) like?
The provided data compares the home only statistically to Glenwood. To understand the neighborhood's feel, amenities, and schools, you would need to conduct separate research or view the property in person to get a sense of the community and street.