Property Overview: 223 Gilmore Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a distinct profile defined by its generous lot and vintage charm. Its most standout feature is the land: at over 8,000 sqft, the lot size is well above average for the street, neighborhood, and city, offering significant outdoor space and potential. The living area is also notably spacious for Gilmore Avenue itself. These strengths are balanced by the home’s age, built in 1935, making it one of the older homes in the area. The assessed value reflects this mix, sitting below the River East neighborhood average but aligning more closely with street and city benchmarks.
The appeal lies in this combination of a large, private lot with a solidly-sized home in an established neighborhood. It suits a buyer who values space over newness—perhaps someone looking for room for gardens, play, or future additions, and who is comfortable with the character and potential maintenance considerations of an older property. It represents an opportunity to own a proportionally larger piece of land in the area without a premium price tag, ideal for a hands-on owner or a long-term value play.
Frequently Asked Questions
1. How does the age of the home affect its value and condition?
Built in 1935, the home’s age is a defining factor. While it may offer character and sturdy construction, it typically implies older mechanical systems, wiring, and plumbing that may need updating or inspection. This often contributes to its assessed value being below the neighborhood average for newer homes.
2. Is the lot size a major advantage?
Yes. The 8,088 sqft lot is a significant asset, ranking in the top 9% on its own street. This is considerably larger than typical lots in Winnipeg and provides rare potential for expansion, landscaping, or outdoor living that is hard to find in this price range.
3. How do recent sold prices compare to the assessed value?
Based on available data, the home sold in the $350k-$400k range in 2022 and $300k-$350k in 2020. The current assessed value is $337k, which sits between these past sale prices and suggests a stable value trajectory in line with market trends.
4. What does "below average" for year built in the neighborhood really mean?
It means most homes in River East were built decades later. The neighborhood average year built is 1976, so this 1935 home is among the oldest 1% in the area. This can mean a more established streetscape but also a different style and upkeep profile compared to nearby houses.
5. Where can I get exact historical sale prices?
The provided sold prices are estimated ranges from public data. For fully verified and exact sale figures, you must request a manual lookup from the site via email, as they do not display proprietary MLS transaction records directly.