This one-storey home at 172 Imperial Avenue in Winnipeg's Glenwood neighborhood presents a straightforward, no-frills opportunity. Built in 1923, its 936 sqft living area and 3,057 sqft lot are modestly sized, placing it around the neighborhood average for space but below the city-wide average. The home features a detached garage and an unrenovated basement. Its assessed value is notably below average for the street, area, and city, suggesting it may be priced for its land and location rather than its current condition. The appeal here lies in its simplicity and potential. It suits a first-time buyer comfortable with a project, an investor looking for a rental property with a classic footprint, or someone seeking an affordable entry into a mature neighborhood without the premium of a modernized home. It’s a property where value is derived more from what you could do with it over time, rather than what it offers immediately.
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What does "below average" assessed value actually indicate?
While it suggests a lower property tax base, it primarily reflects the municipality's valuation of the home in its current state. It often points to an older home that hasn't seen major renovations or additions, aligning with the noted unrenovated basement.
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Is the lot size a limitation or an opportunity?
At just over 3,000 sqft, the lot is smaller than many in the city. This means lower maintenance, but also limits expansion possibilities. Its value is in providing adequate outdoor space for a home of this size without the burden of a large yard.
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Who might the "unrenovated basement" actually appeal to?
Beyond just being a project, it offers a blank slate. For a buyer with specific plans—whether for a rental suite, a workshop, or customized storage—starting from an untouched space can be preferable to undoing someone else's dated renovations.
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How should the 1923 build date be weighed?
It guarantees character and established neighborhood roots, but it necessitates a thorough inspection. Budgeting for updates to foundational systems like wiring, plumbing, or insulation is a more relevant consideration than the age itself.
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What's the realistic use case for the detached garage?
In addition to vehicle storage, it provides valuable separate space for hobbies, a home business, or secure storage, which can be a significant asset even if the house itself is compact.