45 Stranmillis Avenue

Property Overview: 45 Stranmillis Avenue

Section 1: Key Characteristics & Appeal

This one-storey home in Glenwood is a classic Winnipeg character property, built in 1928. With 756 sqft of living space, it is more compact than many area homes, placing it in the top 70% for size on its own street. Its standout feature is a generous 5,094 sqft lot, which is larger than average for both the immediate street and the Glenwood neighbourhood. The home includes a detached garage and an unrenovated basement.

The primary appeal lies in its established location and the significant potential of its large lot. It suits a specific buyer: someone seeking an entry point into a mature neighbourhood who values outdoor space over immediate square footage. It’s a practical canvas for a renovator, a long-term hold for a land-value investor, or an ideal purchase for those who prioritize a sizable yard for gardening or family space. The home’s assessed value is notably below city averages, suggesting a relatively accessible price point for the area, but buyers should budget for updates.

Section 2: Frequently Asked Questions

1. How does the home’s size compare practically?
At 756 sqft, the living area is modest. It’s larger than about 70% of similar homes on Stranmillis Avenue but below the neighbourhood and city averages. This indicates a cozy, efficient layout typical of its era, best for individuals, couples, or small families.

2. What does the “unrenovated basement” imply?
This typically means the basement is in original or functional condition but hasn’t been modernized. It offers utility space and storage but will likely require work for finished living areas. It’s a key factor for renovation budgeting.

3. Is the large lot a common feature here?
Yes and no. The lot is above average for the street and neighbourhood (ranking in the top 34% on Stranmillis), but is around the middle of the pack city-wide. For Glenwood, however, it represents a notably spacious parcel.

4. The assessed value seems low. What does that mean?
The assessed value of $25,900 is for municipal tax purposes and is not the market price. It is below average for the area, which can mean lower property taxes. The actual sale price will be determined by the market, influenced by condition, location, and demand.

5. Based on history, what might I expect for future value?
A nearby, very similar home at 58 Stranmillis (built 1922, 782 sqft) last sold in the $21.5k-$24.5k range in 2016. This, along with the current below-average assessment, suggests the fundamental value may be rooted in the land and location. Future value growth will heavily depend on renovations and area development.