Property Overview
This home at 113 Martin Avenue W in Winnipeg's Glenelm neighborhood is a classic one-and-three-quarter storey house built in 1912. With 1,001 square feet of living space on a 2,699 sqft lot, it presents a compact and efficient footprint. Key features include an unfinished basement and no garage. The property's assessed value is notably low compared to city-wide averages, and it last sold in September 2020.
Key Characteristics & Appeal
This property’s primary appeal lies in its affordability and location within a well-established neighborhood. It suits first-time buyers, investors, or downsizers seeking a lower entry point into the Winnipeg market. The home offers a chance to live in Glenelm, a character-rich area, without the premium price tag of larger, renovated homes nearby.
A thoughtful perspective is that the low assessed value and sale price history suggest this is a true value-play property. It ranks average or better within its immediate street context for living and land area, indicating it fits the local scale, but falls below broader area and city averages for size and value. This creates a specific opportunity: you’re purchasing a home that is typical for its specific block, priced well below the norms of the wider community and city. The unfinished basement provides flexible space for storage, utilities, or future development according to a new owner's needs and budget.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for municipal tax purposes and is influenced by the home's age, size, condition, and lack of major renovations. Its value is more in line with older, smaller homes on its street rather than the city's larger, newer housing stock.
2. What does "one & 3/4 storey" mean for the layout?
This style typically features two floors, where the second floor has slightly sloped ceilings due to the roofline, creating cozy bedrooms or spaces. It's a classic design for homes of this era.
3. Is the lack of a garage a major concern?
On-street parking is common in older neighborhoods like Glenelm. While a garage is convenient, its absence is reflected in the accessible price and is a typical trade-off for homes of this vintage.
4. How does the living space compare to nearby homes?
At 1,001 sqft, it's slightly above the average for similar homes on Martin Avenue W itself but below the average for the broader Glenelm area. It's a comfortably sized home for its immediate context.
5. What are the implications of the unfinished basement?
It provides essential utility space and significant storage. While not a finished living area, it offers potential for future development, though any renovation would need to consider the home's age and structure.