99 Imperial Avenue

Property Overview: 99 Imperial Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1927, situated on a notably generous lot in the Glenwood neighbourhood. Its primary appeal lies in its land value and potential. At just under 5,100 square feet, the lot size is well above average for both its immediate street and the Glenwood area, offering a rare opportunity for expansion, gardening, or outdoor living that is uncommon for homes of this vintage and price point.

The house itself, at 688 sqft with a renovated basement, is functionally a starter home or a downsizing option. Its assessed value is modest, reflecting its smaller living space and age compared to city-wide averages. This creates a clear value proposition: you are purchasing a significant piece of land with a liveable structure, rather than a large finished home. It would suit a first-time buyer comfortable with a cozy footprint, an investor looking for a land-play with current rental income, or a hands-on owner who sees the long-term potential to gradually improve or eventually rebuild on a desirable lot.

Frequently Asked Questions

1. Is this a "tear-down" property?
Not necessarily. The home is livable with a renovated basement, but its significant lot size and modest structure mean that future redevelopment is a strong possibility. It appeals to both those seeking an affordable home now and those viewing it as a strategic land purchase.

2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller square footage and older age relative to the broader Winnipeg market. It is more in line with values for similar compact, older homes in its specific neighbourhood and on its street.

3. What are the implications of the home's age (built 1927)?
Expect character-home considerations. This includes potential for original features but also the need for careful inspection of foundational, electrical, and plumbing systems that may require updating or maintenance.

4. The sold price history shows a range. What factors influence the final price?
Given the property’s profile, the final price often hinges on the buyer's vision. Competing offers could come from an owner-occupant valuing the lot for a garden, an investor calculating rental yield, or a developer assessing redevelopment costs, each with different valuation approaches.

5. How does the renovated basement factor into the living space?
While it adds functional space, it's important to note that above-ground living area is 688 sqft. The basement renovation adds utility but may not be reflected in official area calculations or feel as integrated as main-floor space, especially in an older home.