Property Overview
176 Greenwood Avenue is a well-situated home that presents a specific value proposition. Its key appeal lies in its generous lot size within a mature neighborhood, offering potential for expansion or outdoor enjoyment that is increasingly rare. While the living space is modest compared to area averages, the property’s assessed value is firmly in line with the market, suggesting a fair entry point into the Vista neighborhood of Winnipeg.
Key Characteristics & Ideal Buyer
This 1971-built bungalow sits on a 5,199 sqft lot, which is notably larger than most on Greenwood Avenue itself. The home’s 896 sqft living area is compact, ranking below local and city averages. This creates a distinct dynamic: the land asset is strong, while the existing structure is efficient. The assessed value of $381k is consistently "around average" at every comparison level, indicating the property is priced appropriately for its overall package.
Its appeal is for the practical-minded buyer who sees potential beyond the current floor plan. It would suit a first-time buyer looking for a manageable home with room to grow outdoors, or an investor/renovator who values the lot size as the primary asset for future expansion, a garden, or addition. It’s less suited for those seeking immediate move-in-ready, spacious square footage.
Frequently Asked Questions
1. Is the house too small?
The living area is below the average for the street, neighborhood, and city. It’s a compact layout best for individuals, couples, or small families comfortable with efficient living, or for those planning a future renovation to expand.
2. Why is the assessed value average if the house is smaller?
The assessment reflects the total property value, where the above-average lot size on a desirable street compensates. It indicates you are paying primarily for location and land, with the existing house at this price point.
3. What does the lot size actually offer?
Ranking in the top 25% on its street, the lot provides valuable outdoor space for recreation, gardening, or storage. For the right buyer, it also represents long-term potential for an addition, garage, or laneway house, subject to zoning.
4. How does the 1971 build year affect things?
It’s around average for the city. This typically means modern wiring and plumbing foundations may be present, but systems like the roof, windows, or furnace could be nearing or due for updates, which should be factored into inspection and budgeting.
5. Is this a good investment for the neighborhood?
The property sits in a stable, established area where values track consistently with city averages. Its value growth would likely depend more on future improvements to the structure itself, given the land is already a strong component.