Property Overview: 98 Fifth Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Glenwood presents a unique value proposition centered on its land. The house itself is compact at 728 sq ft, placing it below average in size for the area, but it sits on a notably large, above-average lot of over 6,100 sq ft. Key features include a renovated basement and a detached garage. Recent sales history shows consistent activity, suggesting a stable, in-demand location.
The primary appeal lies in the potential offered by the generous lot size in a mature neighbourhood. It suits two main types of buyers: first, practical investors or homeowners looking for a modest, updated footprint with minimal maintenance and a solid baseline value. Second, it’s a compelling canvas for future expansion or redevelopment, appealing to those with a longer-term vision who see the land as the primary asset. It’s a property where the value is less about the current structure and more about the underlying opportunity and location stability.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 728 sq ft, the home is indeed compact. It would suit a single person, a couple, or a small family comfortable with efficient living. The renovated basement provides additional flexible space to offset the main floor size.
2. What does the "above-average" land ranking mean for me?
The lot size is in the top 7% for the Glenwood area. This means more outdoor space than most neighbours, offering greater privacy, room for gardening, play areas, or future additions like a deck, workshop, or even an expansion of the home itself, subject to zoning.
3. The assessed value seems low. Is this accurate?
The assessed value is around average for Glenwood but below the citywide average, reflecting the home’s smaller size and the neighbourhood’s market. It’s important to note that assessed value for tax purposes doesn't always equal market sale price, which can be influenced by recent sales, condition, and buyer demand for the lot.
4. The home was built in 1944. What should I be concerned about?
While the basement has been renovated, a home of this age will have core systems (like plumbing, electrical, and the foundation) that require a thorough inspection. Its age is typical for the street and neighbourhood, so many potential issues are predictable and can be investigated upfront.
5. Who are the most likely neighbours or buyers for this street?
Given the stable sales history and mix of older, modest homes on larger lots, the street likely attracts a blend of long-term residents and investors. It’s an area where property values are driven more by location and land than by luxury finishes, fostering a practical, grounded community.