Property Overview & Key Characteristics
This one-storey home on Silvia Street in Glenelm is a compact, character property built in 1921. With 866 sqft of living space, it is smaller than the average home in the neighbourhood and city, but sits on a decent-sized lot of nearly 4,000 sqft, which is above average for Glenelm. The home features a renovated basement and a detached garage.
Its primary appeal lies in its location within a well-established neighbourhood and its efficient, manageable footprint. The lot size offers valuable outdoor space or future potential relative to other properties in the area. The recent renovation of the basement adds functional living space. The property’s assessed value is modest and around the average for its immediate street and neighbourhood, suggesting a potentially accessible entry point into the market.
This home would suit first-time buyers or downsizers looking for a lower-maintenance property with character in a mature community. It could also appeal to an investor or handy buyer who values the lot size and sees potential in the existing structure, appreciating that the core systems and basement have seen updates.
Frequently Asked Questions
1. How does the size of this home compare to others?
At 866 sqft, the living area is below the average for both the Glenelm neighbourhood and Winnipeg overall. It represents a more compact, efficient layout.
2. Is the assessed value a good indicator of the selling price?
The assessed value is a municipal figure for tax purposes. While it provides a benchmark, market conditions, the home’s updated condition, and its lot size will be the primary drivers of its sale price. Recent sale history on the street should be reviewed.
3. What are the implications of the larger lot size?
The lot of 3,999 sqft is above average for Glenelm. This is a key feature, offering more private outdoor space than many neighbouring properties and could be a factor for future expansion, subject to zoning.
4. What should I consider with a home from 1921?
While the basement has been renovated, a home of this age will have original components. A thorough inspection is essential to understand the condition of the foundation, wiring, plumbing, and the roof.
5. How stable has the property’s value been?
Based on the provided sale ranges, the property has appreciated over recent years. However, as with any older, smaller home, its value is closely tied to its maintenance, updates, and the overall demand for character homes in Glenelm.