Property Overview: 274 Glenway Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition in Winnipeg's River East neighborhood. Its key characteristic is a noticeable discrepancy: the property has a significantly lower assessed value ($310k) than most comparable homes on its street and in the immediate area, where averages exceed $400k. The living space (1,260 sqft) and lot size (6,102 sqft) are generally average for the city, providing a comfortable footprint.
The appeal lies in this value positioning. It’s a 1959-built home, older than most in the vicinity, which likely contributes to its lower assessment and could represent an opportunity for buyers comfortable with a vintage home, possibly as a renovation project or a straightforward, affordable entry into the neighborhood. The lot size is above the Winnipeg average, offering good outdoor space relative to many city properties.
This home would suit value-conscious buyers, including first-time homeowners looking for a lower entry point in a stable area, or investors considering a hold-and-rent strategy based on the area's typical valuations. It’s less suited for those seeking a move-in-ready home comparable to newer builds on the street without any planned updates.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbors?
The primary reason is the home's age. Built in 1959, it is notably older than the average home on Glenway Avenue (1980) and in River East (1976). Assessment considers factors like construction era, condition, and updates, which can result in a lower valuation compared to newer or recently renovated nearby properties.
2. How reliable is the recent sold price data shown?
The displayed sold price range (CA$300k–350k for 10/2023) is based on publicly available data, not the MLS. The site advises that for fully verified and exact transaction figures, you must request a manual lookup via email, as MLS records are not displayed due to industry rules.
3. Is the lot size a major advantage?
While slightly smaller than the immediate street average, the lot is above the citywide average. It provides a decent-sized yard for Winnipeg but isn't an exceptionally large parcel for the River East area. It's a balanced, usable space.
4. What does "Top 99%" for assessed value on the street mean?
This ranking means the property's assessed value is higher than only 1% of comparable homes on Glenway Avenue (ranked #82 out of 83). In simpler terms, it has one of the lowest assessments on the street, which translates to a relatively lower property tax burden.
5. How does the living area compare for a family?
At 1,260 sqft, the living area is very close to the Winnipeg average. It's a practical size for a small to medium-sized family, typical of many post-war homes, but prospective buyers should verify the specific room layout and number of bedrooms to ensure it meets their needs.