Property Overview: 42 Egerton Road, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home in Glenwood presents a straightforward opportunity, primarily defined by its value and potential. Its key characteristic is a notably low assessed value, which is well below average for its street and the wider city. At just under 1,200 sqft of living space, the house itself is modestly sized but functional for the area. The lot is a standard city size. The home’s age (built in 1914) and unrenovated basement indicate it is a fixer-upper or a property preserved in its original state.

The appeal lies squarely in its affordability and the chance for customization. It suits buyers with a clear vision and the willingness to invest sweat equity or renovation funds over time. This is not a move-in-ready showpiece but a canvas. It would particularly suit a first-time buyer seeking an entry point into the market, an investor looking for a rental property with a low initial cost basis, or a hands-on individual who prefers to shape a home to their own tastes rather than pay a premium for someone else’s updates. A less obvious perspective is that its low assessment could offer relative property tax savings compared to similarly sized but updated homes, preserving cash flow for renovations.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the street?
The assessment is likely lower due to the home’s age, the condition of the basement (noted as unrenovated), and potentially outdated interior systems or finishes compared to neighbouring properties that have been modernized.

2. What does "one-and-a-half storey" mean for this house?
Typically, this style features a full main floor and a second floor with sloping ceilings where the roofline begins, often creating cozy bedrooms or attic-style spaces. The usable square footage on the upper level may be less than on the main floor.

3. Is the sold price history provided an accurate estimate of its market value?
The listed sold price range is based on public data. For the exact historical sold price, you must request it via email from the site, as noted in the details. The recent sale in mid-2024 suggests a market value in that approximate range.

4. What are the immediate costs a buyer should anticipate?
Beyond the purchase price, a buyer should budget for any necessary updates to major systems (roof, wiring, plumbing, heating) given the home’s age, and for finishing or repairing the basement to add livable space and value.

5. How does the lot size and neighbourhood rank compare?
The lot is fairly standard for the city and average for the Glenwood area. While the house ranks below average on its own street in several metrics, Glenwood as a whole is a mature, established neighbourhood, offering a balance of accessibility and community feel.