Property Overview: 314 Regal Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated Glenwood bungalow presents a compelling blend of space, location, and value. Its key characteristic is a generous, above-average lot size of nearly 6,000 sq ft, offering more outdoor space than most homes in the immediate area and across the neighbourhood. The home itself, built in 1950, is a compact 792 sq ft one-storey with a renovated basement and a detached garage. While the living area is modest compared to city averages, its assessed value is strong for the Glenwood area, indicating perceived stability and desirability within this specific community.
The appeal lies in its efficient use of space and prime lot. It’s a property where the land is a significant asset, offering room for gardening, expansion, or simply more privacy than typical parcels. The renovated basement adds functional living space. It would best suit first-time buyers or downsizers seeking a manageable home with a low-maintenance footprint, but who prioritize a larger, established yard. It’s also a sensible option for value-focused buyers looking in Glenwood, where this home’s assessment ranks above the local average, suggesting a solid foundation in a mature neighbourhood.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 792 sq ft of main living area, it is compact. However, the renovated basement provides additional finished space, and the floorplan is typical of efficient 1950s bungalows. Buyers should consider if the layout works for their needs, as the generous lot size is a trade-off for a smaller interior footprint.
2. How does the assessed value compare?
The $340k assessment is above the average for Glenwood, ranking in the top 28% locally. This suggests the property is viewed favorably compared to its immediate peers, likely due to its lot size, condition, and location on Regal Avenue.
3. What is the potential for future expansion?
The large lot is a clear asset for potential expansion, such as an addition or a garden suite (subject to zoning and permit approvals). This lot size is uncommon for the area and is a key long-term advantage.
4. What are the recent sold prices for the area?
The last recorded sale for this property was in May 2022, in the range of $295k-$325k. Exact sold prices for nearby properties can be provided upon request to give a clearer picture of the current market context.
5. How does the age of the home affect things?
Built in 1950, the home is older than the city average. Prospective buyers should prioritize a thorough inspection to understand the condition of major aging components like the roof, plumbing, and electrical systems, even with a renovated basement.