Property Overview: 264 Gilmore Avenue, Winnipeg
Key Characteristics & Appeal
This home at 264 Gilmore Avenue is a quintessential River East property that represents solid, middle-of-the-road value. Built in 1970, it offers 1,104 sqft of living space on a 5,523 sqft lot, with a current assessed value of $337k. The data reveals a house that is consistently "around average" in most metrics when compared to the city and its immediate street, but often sits below the broader neighborhood averages for size, value, and lot size. This positioning is precisely where its appeal lies: it’s an accessible entry point into the neighborhood without the premium price tag of its larger or newer counterparts. It last sold in early 2023 for an estimated $350k–$400k, placing it in a competitive price tier.
The property would suit first-time buyers or practical downsizers seeking a stable, no-frills home in an established area. Its appeal is grounded in affordability and community rather than standout features. A thoughtful perspective is that this home offers the advantage of lower property taxes relative to higher-assessed homes in River East, while still providing the same neighborhood amenities. It’s a home for someone comfortable with a property that may require gradual updates, seeing the value in the land and location rather than in a turn-key finish.
Frequently Asked Questions
1. Is this house a good value for the River East area?
The data suggests it is priced below the neighborhood average for assessed value, indicating you may get more house for your dollar here compared to pricier lots in River East, albeit often in a slightly smaller or older package.
2. How does the lot size compare?
At just over 5,500 sqft, the lot is below the River East average but is very typical for Gilmore Avenue itself. It offers a standard suburban yard space without being overly large to maintain.
3. What can the 2023 sale price tell me?
The previous sale in the $350k–$400k range (exact price available upon request) provides a recent market benchmark. It shows the home transacted at a level competitive for the street but below the area's average assessed value, which could indicate room for value growth.
4. Is the house older than others nearby?
Yes. Built in 1970, it is slightly older than both the street and neighborhood averages. Buyers should budget for potential updates consistent with a home of this age, such as windows, roof, or mechanical systems.
5. How does it compare to the house next door?
The provided comparisons show nearby homes on Gilmore Avenue are very similar in size, age, and value (e.g., 256, 294, and 298 Gilmore Ave.). This consistency suggests a stable, uniform streetscape with little risk of over-improvement relative to immediate neighbors.