Property Overview: 35 Vivian Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Glenwood presents a specific and compelling value proposition. Its key characteristic is a significant contrast: the living space is modest at 650 sqft, ranking below average for the area, but it sits on an exceptionally large lot of over 5,100 sqft, which is in the top 5% for Vivian Avenue. The home features a renovated basement and a detached garage. Built in 1929, its assessed value is in line with the immediate neighbourhood.
The primary appeal lies in this land-to-structure ratio. It’s a property where the true value is in the potential of the land itself, offering rare space for expansion, gardening, or outdoor living in a mature area. The renovated basement adds functional living space. It suits a specific type of buyer: those seeking an affordable entry into the neighbourhood with a vision for future improvements, investors or builders eyeing the lot's potential, or downsizers who prioritize private outdoor space over a large interior. It’s less suited for buyers needing substantial, move-in-ready living space immediately.
Section 2: Frequently Asked Questions
1. Is the price driven by the house or the land?
Given the home's below-average living area but above-average lot size, the price is significantly influenced by the land value. It's an opportunity centred on the property's potential rather than its current footprint.
2. How does the assessed value compare to recent sale prices?
The current assessed value is $27,200. The home sold twice in 2020, with prices reported in a range between $20,500-$24,500. This suggests the assessed value has seen a modest increase since those sales.
3. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A viewing is essential to understand the finish quality, ceiling height, legal egress, and whether it includes a separate entrance or rental potential.
4. Is the large lot a benefit or a burden?
It's a major benefit for privacy, expansion, or outdoor use. However, it may come with higher maintenance (lawn care, snow clearing) and potentially higher property taxes over time compared to neighbours with smaller lots.
5. What is the neighbourhood like for a home of this size and vintage?
Glenwood is a mix of older, smaller homes like this one and newer, larger constructions (as seen in nearby comparisons on Morier Avenue). This indicates an area in transition, where this property could be one of the older originals on a spacious lot.