Property Overview

This is a compact, century-old one-storey home on a notably large lot in Winnipeg's Glenwood neighborhood. Its key appeal lies in the significant disconnect between the modest, unrenovated house and its substantial land parcel. With a living area of just 572 sqft, it is among the smallest homes in the city, and its assessed value is correspondingly low. However, the property sits on over 6,100 sqft of land, which is well above average for both the street and the wider area. This presents a clear value proposition based on land potential rather than current accommodations. The home features a detached garage and an unrenovated basement.

It would best suit a specific type of buyer: investors or owner-occupants with a vision for the land. This includes those looking for a long-term hold on a sizable urban lot, developers eyeing future potential (subject to zoning), or handy individuals willing to live minimally while they plan a major renovation or rebuild. It is not suited for buyers seeking move-in-ready space or standard family-sized accommodations.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes?
The assessment primarily reflects the very small size and unrenovated state of the existing dwelling. The value is in the land, which is not fully realized in the current assessment model as it is already occupied by a structure.

2. What can I do with such a large lot and a small house?
The large lot offers flexibility. Options could include a significant expansion of the existing home, a future rebuild, or creating extensive outdoor living space. Any major structural change would require checking current zoning bylaws and obtaining necessary permits.

3. Is this a "teardown" property?
While the existing house is very small and dated, it is a functional dwelling. The decision to demolish would be an economic and personal one based on your goals, budget, and the costs of renovation versus new construction. Its historic age (1924) does not confer protected heritage status based on this data.

4. How does the condition of the basement affect usability?
The listing notes the basement is "not renovated." Buyers should budget for potential moisture issues, outdated utilities, or foundational repairs common in century-old homes, and factor this into renovation plans or holding costs.

5. The comparable listed properties have wide value ranges. Why?
The "similar assessed value" list shows properties with identical municipal assessments, not similar physical attributes. The "nearby properties" list reveals the local market reality: values on the same street vary dramatically based on house size, condition, and lot size, highlighting the unique land-to-improvement ratio of this specific listing.