Property Overview: 111 Greenwood Avenue
Key Characteristics & Buyer Appeal
This home presents a balanced and practical opportunity in the Vista neighborhood of Winnipeg. Its primary appeal lies in a standout lot size of 6,775 sqft, which ranks in the elite top 4% on Greenwood Avenue itself and is above average for both the neighborhood and city. This generous outdoor space is the property's clearest advantage, offering rare potential for gardening, expansion, or recreation on a quiet street.
The home itself, built in 1947, is of a classic vintage and is smaller (1,121 sqft) and older than many in the broader Vista area. This positions it as a more affordable entry point into the neighborhood. Its living area and assessed value ($380k) are consistently "around average" at every comparison level—street, neighborhood, and city. This indicates a stable, mid-market property without unexpected premiums.
It would best suit a value-conscious buyer who prioritizes land over a large or modern house. It's ideal for someone comfortable with a home of classic character, possibly looking for a project, or a first-time buyer seeking to build equity in a well-located lot. The numbers suggest you're paying for the land and location, with the house itself offering functional, no-frills space.
Frequently Asked Questions
1. Is this property a good value?
The data suggests it is fairly priced within its immediate context. The assessed value is very close to street and neighborhood averages, while the lot size is significantly larger than most comparables. This indicates you are likely getting a tangible value in the land itself.
2. What should I know about the 1947 build date?
While typical for its street, this home is notably older than most in the Vista neighborhood (ranking in the top 98%, meaning only 2% are older). Buyers should budget for a thorough inspection focused on aging infrastructure like plumbing, electrical, and the foundation, which may need updating.
3. How does the lot size add value?
Beyond personal use, the large lot is a long-term financial asset. It provides flexibility for future additions like a garage, workshop, or sunroom, which could increase livable space. It also may have more appeal to future buyers compared to neighboring properties on standard-sized lots.
4. Is the living area sufficient for a family?
At 1,121 sqft, the living space is modest by today's standards but on par with many homes on the street. It would suit a small family, couple, or individual comfortably. The generous lot does offer the possibility to extend the living space outdoors with decks or patios.
5. What do the rankings mean for resale?
The consistent "around average" rankings for value and living area suggest stable, predictable market performance. The exceptional lot size is a positive differentiator that could make it stand out in future listings, potentially offering better resilience in a slower market compared to homes with small lots.