Property Overview: 438 Gagnon Street, Winnipeg

Key Characteristics & Appeal

This 1,120 sqft one-storey home in Glendale presents a practical and value-oriented opportunity. Its key appeal lies in a balance of updated essentials and a strong positional value within its immediate neighborhood. The home features a renovated basement and an attached garage, offering modern convenience. Built in 1976, it is newer than many area comparables.

The data reveals a nuanced story: while the living space is average for the area, the property’s assessed value ranks well above average for both Gagnon Street and the wider Glendale neighborhood. This suggests the renovations and condition are likely recognized in its valuation. The lot, at just under 5,900 sqft, is smaller than most on the street, which may appeal to buyers seeking lower outdoor maintenance without sacrificing yard space entirely.

This property would best suit first-time buyers, downsizers, or practical investors looking for a move-in-ready home with modern basics in a stable area. It’s for the buyer who values being above-average in terms of investment (per assessment) within its core locale, rather than seeking the largest home on the block.

Frequently Asked Questions

1. How does the assessed value compare to recent sale prices?
The home last sold in August 2022 for a price range estimated between $38.5k and $41.5k. Its current assessed value is $390k. This indicates a significant increase in value over a short period, which should be verified with a real estate professional for current market context.

2. What does "renovated basement" typically mean here?
While specifics should be confirmed by a viewing and inspection, in homes of this era a renovated basement usually means finished living space, possibly including a rec room, additional bedroom, or bathroom, adding functional square footage.

3. The lot is noted as smaller than average for the street. Is this a major drawback?
Not necessarily. It provides a manageable yard, which can mean less time and money spent on maintenance. For many buyers, this is a benefit. It’s still a good-sized city lot, just not as large as some neighbors'.

4. The home ranks above average in value for the area but average citywide. What does this mean?
It highlights that this property is a strong performer within its desirable local context of Glendale and Gagnon Street. Its value proposition is more attractive when compared directly to its closest neighbors than to the entire city, underscoring the importance of hyper-local market trends.

5. Who are the typical buyers in this neighborhood?
Glendale often attracts families and long-term residents due to its established community feel, parks, and amenities. This particular one-storey style, with a renovated basement, also appeals to those looking for single-level living or a potential income suite (subject to zoning verification).