Property Overview: 126 Cobourg Avenue, Glenelm, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1942, presents a solid opportunity in Winnipeg's Glenelm neighborhood. Its key appeal lies in a combination of strong assessed value and a renovated basement, set within a well-established, mature community.
The 1,166 sqft living space is average for the area, but the property stands out for its above-average assessed value relative to both the street and the wider Glenelm area, suggesting it is viewed favorably by municipal assessors. The detached garage and renovated basement add practical utility. While the lot size is somewhat compact compared to city-wide averages, this is typical for the neighborhood and can mean lower maintenance.
This home would suit a first-time buyer or a downsizer looking for a move-in ready character home without the upkeep of a large yard. It’s also a prudent choice for value-oriented buyers who appreciate a home with strong assessment fundamentals in a quiet, established area. A less obvious perspective is that its higher assessment on a street of similar-aged homes could indicate specific updates or conditions that are recognized in its valuation, warranting a closer look.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The details state the basement is renovated but do not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the assessed value compare to likely selling price?
The assessed value is notably high for the immediate area. It’s important to understand that municipal assessment is for tax purposes and can differ from market value. Recent sold price history and a professional appraisal will provide a clearer market picture.
3. What are the implications of the smaller lot size?
The land area is below average for Glenelm and the city. This typically translates to less outdoor maintenance but also limited potential for expansions or additions. It’s worth checking setback requirements and any restrictive covenants.
4. How does the age of the home affect insurance and maintenance?
Built in 1942, the home’s major systems (roof, plumbing, wiring) may have been updated, but their age and condition should be a focus of inspection. Some insurance providers may have specific requirements for older homes.
5. Why is there a range for the past sold price instead of an exact figure?
Exact sold prices are not always publicly available in Manitoba. The provided range is based on public data estimates. The listing service offers to provide the exact figure via email to ensure accuracy for serious inquiries.