Property Overview: 49 Vivian Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Glenwood is defined by its compact efficiency and notable affordability. Its key characteristic is a modest 572 sqft living area, which is significantly smaller than most homes in the area and city-wide. This is paired with a very low municipal assessed value, placing it in the bottom 10% of Winnipeg properties. The home, built in 1929, sits on a standard city lot and features a renovated basement and a detached garage.
The primary appeal lies in its position as a true entry-point into homeownership or as a strategic investment property. The extremely low tax assessment and recent sale history suggest a very accessible price point. It suits pragmatic first-time buyers willing to trade space for opportunity, or investors seeking a rental property with a low cost basis. A less obvious perspective is its potential for someone seeking a minimalist lifestyle without a large mortgage, or as a "land value play" where the long-term value is more in the lot than the current structure. It’s not suited for those needing ample space, but rather for those who value financial flexibility and a straightforward project.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's very small size (572 sqft) and older age relative to the broader market. It is assessed based on its current state and utility, not the potential value of the land.
2. What does "renovated basement" mean for a home of this size?
While specifics aren't listed, a renovated basement in a compact home like this significantly increases its usable living space. It’s a crucial feature that adds functional square footage for storage, utilities, or additional living areas.
3. Who would be the ideal buyer for this property?
It's ideal for a budget-conscious first-time homebuyer, an investor looking for a manageable rental property, or someone interested in a small-footprint lifestyle. Its value is in affordability and potential, not in move-in size or luxury.
4. How does the detached garage add value?
In a neighbourhood of older homes, a detached garage is a valuable asset for vehicle protection, storage, or as a potential workshop space, adding practical utility that many similarly priced properties may lack.
5. The home is much smaller than others on the street. Is that a concern?
It indicates this is one of the most modest homes on the block. This can be an advantage for affordability but means any future value appreciation will be closely tied to land value and the condition of neighbouring properties.