Property Overview: 28 Fifth Avenue, Glenwood, Winnipeg

Key Characteristics & Buyer Appeal

This one-and-a-half storey home, built in 1914, presents a classic Winnipeg character property with a distinct value proposition. Its key appeal lies in a significant, above-average land parcel of over 6,100 sqft—a rarity that ranks in the top 3% on its street and top 7% in the Glenwood neighbourhood. This generous lot offers substantial outdoor space and future potential in a city where land is often at a premium.

The home itself, with 885 sqft of living space, is more modest and functionally renovated, featuring an updated basement. Its assessed value is notably below average for the area, reflecting its smaller footprint and age. This creates a scenario where you are primarily investing in the land and location. A detached garage adds practical utility.

This property would best suit a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes land size over immediate move-in luxury. It’s for someone who sees potential in the sizable yard for gardening, expansion, or simply as a private oasis, and is comfortable with the upkeep of a century-old home. It represents a grounded entry into the market with a long-term asset—the land—that outperforms the house itself.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby newer homes?
The assessment reflects the home's age, smaller living area, and modest finishes compared to fully modernized or newly built properties. The system often values the structure separately from the land, and here the land value is a key component of the total price.

2. What does the "Elite" ranking for Land Area actually mean?
It means this property's lot size is larger than approximately 97% of the lots on Fifth Avenue. In practical terms, you're getting significantly more outdoor space than most of your immediate neighbours, which is uncommon in established neighbourhoods.

3. Are there major concerns with a house built in 1914?
While the basement has been renovated, a home of this age will likely require ongoing attention to classic maintenance items such as original windows, insulation, and plumbing or electrical systems that may have been updated only in part. A thorough inspection is essential.

4. The last sold price range shows a value similar to the current assessment. Has the property not appreciated?
The data suggests stable, modest value in line with its assessment. In markets where newer or fully renovated homes see rapid appreciation, older, character homes on large lots can follow a different trajectory, with their value often becoming more pronounced over the very long term.

5. What is the realistic potential for this property?
The primary potential is tied to the land. Future owners could explore additions, a garden suite (subject to zoning), or simply enjoy one of the larger yards in the area. The house itself is a functional canvas, suitable for gradual updates while living in it.