Property Overview
This one-storey home at 36 Fifth Avenue in Winnipeg's Glenwood neighbourhood is defined by its historic character and its position as an entry-point property. Built in 1907, it sits on a 3,075 sqft lot and offers 725 sqft of living space with an unrenovated basement and a detached garage.
Its primary appeal lies in its affordability and lot potential. With an assessed value significantly below area averages, it presents a clear opportunity for first-time buyers or investors seeking a lower barrier to entry into the housing market. The lot size is relatively standard for the immediate street, offering room for expansion or outdoor space. The home suits hands-on buyers looking for a project, whether as a live-in renovation or a long-term hold. Its age and condition mean it is not a move-in-ready option, but rather a canvas for someone willing to invest sweat equity or capital over time.
A less obvious perspective is its value as a study in Winnipeg's housing evolution. As one of the older homes in a neighbourhood of mostly mid-century properties, it represents the early development phase of the area. For the right buyer, this historical charm outweighs the modern comparisons where it ranks below average in size, value, and year built.
Frequently Asked Questions
1. Is this a "tear-down" property?
While its age and below-average size might suggest that, its assessed value and recent sale history indicate it is likely being used as a habitable dwelling. The decision to renovate or rebuild would depend on a buyer's specific goals and a thorough inspection of the structure's condition.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's older age, smaller size, and the need for updates. It is more aligned with similar, older homes in the Glenwood area rather than the Winnipeg-wide average, which includes many newer and larger properties.
3. What are the implications of the "unrenovated basement"?
This typically means the basement is in original or functional condition but lacks modern finishes. It should be inspected for foundational integrity, moisture control, and the potential for future living space, which could add significant value.
4. How does the detached garage affect the property's value and use?
A detached garage is a practical asset for storage or workshop space. On a standard city lot, its placement also influences how the backyard can be used and may factor into any future plans for an addition or new structure.
5. The sold price history shows a range. What does that mean?
Public records sometimes provide estimated ranges. To obtain the exact historical sale price for informed decision-making, you must request it directly from the listing service, as noted on the detail page.