Property Overview
63 Glenlawn Avenue is a compact, one-storey home in Winnipeg's established Elm Park neighbourhood. Built in 1949, the 792 sqft house sits on a 5,079 sqft lot and features a renovated basement. It does not have a garage or pool. The home’s most defining characteristic is its assessed value, which is notably low compared to its immediate street, the wider neighbourhood, and the city, suggesting a significant opportunity for value appreciation. Its living space is modest, ranking below average for the area, which points to a home best suited for efficient living or with potential for expansion.
Key Characteristics & Appeal
The primary appeal of this property lies in its position as an entry point into a mature, sought-after neighbourhood like Elm Park. It suits first-time buyers, downsizers, or investors looking for a lower-cost foothold in a stable area with the intention of building equity over time. The renovated basement adds functional living space, a valuable asset in a smaller home. A thoughtful perspective is that its below-average size and value on a street of larger homes could make it a relatively affordable candidate for a future renovation or addition, allowing a buyer to tailor the space to their needs while capitalizing on the existing desirable location. The lot size, while not the largest on the street, is still generous for the area and offers ample outdoor space for gardening, recreation, or future development.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring properties?
While specific reasons aren't provided, a significantly lower assessment often reflects the home's smaller size, older components, or the fact that it hasn't been renovated to the same degree as comparable homes. It's a key metric to discuss with a real estate professional to understand the full context.
2. Is the living area too small for a family?
At 792 sqft above grade, the space is compact. It would likely suit a small family, a couple, or a single individual best. The renovated basement effectively doubles the usable living area, making the overall footprint more functional.
3. What are the implications of not having a garage?
This means relying on street parking or considering the cost and feasibility of adding a driveway or garage in the future. For some buyers, this is a worthwhile trade-off for the neighbourhood and price point.
4. How does the 2017 sale price relate to its current value?
The 2017 sale price of $27.5k is a historical data point. Market conditions, changes to the property (like the basement renovation), and overall Winnipeg real estate trends since then mean the current market value will be different. This figure is more useful for understanding past transaction history than current worth.
5. What is the neighbourhood of Elm Park like?
Elm Park is a long-established, residential neighbourhood in Winnipeg. It typically features older, well-maintained homes on tree-lined streets, offering a quiet, community-oriented atmosphere with good access to city amenities.