Property Overview

This one-and-three-quarter storey home on Guay Avenue in Glenwood is a classic Winnipeg character property with a practical footprint. Built in 1909, it offers 960 sqft of living space on a 2,720 sqft lot. The home has a basement, but it is not renovated, and there is no garage or pool. Its assessed value is notably lower than area averages, reflecting its vintage and condition. The appeal here is rooted in opportunity: it’s a chance to own a home in an established neighbourhood at an accessible entry point, with the land and structure providing a canvas for renovation or gradual improvement. It suits a specific buyer—someone looking for a project, whether as a first home, a long-term hold for value-add, or an investor comfortable with older housing stock. Its charm isn't in modern finishes, but in its potential and location.

Key Characteristics & Ideal Buyer

• Key Characteristics: This is a historic, compact home on a standard city lot. The living space is modest but in line with older homes in the immediate area. The unrenovated basement and lack of a garage highlight its need for updates. Critically, its assessed value and recent sold price are significantly below averages for the street, neighbourhood, and city, indicating it is priced according to its current state rather than its location.
• Where Its Appeal Lies: The primary appeal is affordability within a mature neighbourhood. It represents a lower barrier to entry for homeownership in Winnipeg. For the right person, the 117-year-old structure holds character and the promise of creating equity through sweat equity and thoughtful upgrades. It’s a property where the value is more in what it could become than in what it currently is.
• Who It Suits: This home is best suited for handy first-time buyers, renovators, or value-oriented investors. It requires a buyer with a realistic budget for improvements and an appreciation for older homes' quirks. It is less suitable for those seeking a turn-key, modern property or who have no appetite for maintenance and projects.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common architectural style in older Winnipeg homes. It typically means the second floor has sloped ceilings (following the roof line) and potentially dormer windows, creating full but sometimes cozier rooms compared to a full two-storey.

2. The assessed value seems very low. Why is that?
The assessed value is based on the property's condition, age, and features as of a specific valuation date. A low assessment relative to the area generally reflects the home's need for renovation and updates, not necessarily its market price or land value.

3. Is the unrenovated basement finished or usable?
The listing specifies it is "not renovated," which typically means it is in original or rough condition. It likely has foundational systems (furnace, electrical) but is not developed as a finished living space. It should be inspected for moisture issues common in basements of this age.

4. What are the major considerations for a home built in 1909?
Prospective buyers should prioritize inspections for foundational integrity, wiring (knob-and-tube or old aluminum wiring may be present), plumbing (original galvanized pipes), and insulation. Energy efficiency will likely be lower than in modern builds, affecting utility costs.

5. There's no garage. Is adding one possible?
The 2,720 sqft lot provides standard space for Winnipeg. Adding a garage would require checking current zoning bylaws for setbacks and lot coverage limits. It is physically possible on many lots of this size, but it would consume a significant portion of the backyard space and requires a construction budget.