Property Overview: 52 Vivian Avenue, Winnipeg
Key Characteristics & Appeal
This one-storey home on Vivian Avenue in Glenwood is defined by its contrasts. Built in 1914, it is a century-old property with a compact 734 sqft living area, which is notably below average for the street, neighbourhood, and city. The interior spaces, including an unrenovated basement, reflect its vintage and present a clear value-priced project opportunity. However, its primary asset is a generous 5,003 sqft lot, which ranks well above average for Vivian Avenue. This creates a unique value proposition: a modest, older home on a substantial piece of land.
Its appeal lies squarely in its potential and land value. The low assessed value and recent sale price point to an entry-level purchase, suited for a hands-on buyer, investor, or someone seeking a foothold in the neighbourhood. It’s a candidate for a renovation, expansion, or eventual rebuild, with the lot size offering flexibility that newer infill properties often lack. This property would suit a pragmatic first-time buyer comfortable with gradual improvements, an investor looking for land value in a mature area, or a builder seeking a infill lot with an existing structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's age, smaller size, and condition relative to the broader market. It is primarily based on the existing structure, making this property tax-efficient compared to newer or fully renovated homes.
2. What does "below average" for living area mean in practical terms?
With 734 sqft, the home's living space is compact. It suggests a classic older floor plan, likely with fewer and smaller rooms than modern expectations, emphasizing efficient use of space or the need for an addition.
3. Is the large lot a significant advantage?
Yes. The lot is larger than most on the street and in Glenwood. This not only provides more outdoor space but also increases future potential, such as for a sizeable addition, garden suite (subject to zoning), or as a key asset for future redevelopment.
4. How does the 1914 build year affect the property?
It indicates character and solid construction but also means potential for older mechanical systems (plumbing, electrical), insulation standards, and a need for updates. Maintenance and renovation costs should be budgeted with this age in mind.
5. Who would this property not be suitable for?
It is likely not a match for buyers seeking a move-in-ready, modern, or spacious home without immediate renovation plans. The project-oriented nature requires a vision, tolerance for updates, and a willingness to invest time or capital beyond the purchase price.