Property Overview & Key Characteristics
This one-and-a-half storey home at 42 Gallagher Avenue W in Winnipeg's Brooklands neighbourhood is a compact, century-old property built in 1920. Its primary appeal lies in its land value and affordability, presenting a clear opportunity for a specific type of buyer.
The 690 sqft living space is notably compact, ranking well below average for the street, neighbourhood, and city. This indicates a home suited for minimalists, first-time buyers comfortable with cozy spaces, or investors. The lot size of 2,511 sqft is more generous relative to the house itself, offering potential for outdoor use or future expansion, and is around average for the immediate street. With no basement, no garage, and no pool, this is a straightforward, low-maintenance property.
Its strongest financial characteristic is its low assessed value ($13.4k) and last sold price ($12.2k in 2020), which are significantly below city averages. This positions the property not as a move-in ready home, but as an entry-point investment or a value-purchase for someone willing to renovate or rebuild. It would suit a buyer looking for land value in the city, a hands-on renovator seeking a project with a low entry cost, or an investor considering long-term holding or redevelopment.
Frequently Asked Questions
1. Is this a tear-down property?
Given the very small living area, age of the home (106 years), and the fact the assessed value is almost entirely in the land, it is very likely considered a redevelopment or significant renovation project by the market.
2. What does "no basement" mean for this home?
It typically means the home is built on a crawlspace or slab foundation. This affects storage, mechanical systems placement, and can limit renovation options compared to homes with a full basement.
3. The lot size seems decent, but the house is small. Can I build an addition?
The lot size does provide some flexibility. Any expansion or new construction would require checking with the City of Winnipeg for zoning bylaws, setback requirements, and obtaining the necessary permits.
4. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's current state—a very small, older home with basic amenities on a standard city lot. It is not comparable to the average Winnipeg home, which is larger, newer, and may have more features.
5. Who would this property not be suitable for?
It would not suit buyers looking for a move-in ready home, those needing multiple bedrooms or ample living space, or anyone unable to manage a significant renovation or rebuilding project. It is a specialist purchase for a specific goal.