Property Overview: 187 Hespeler Avenue, Glenelm, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1907, presents a unique opportunity in Winnipeg's Glenelm neighbourhood. Its key characteristic is a significant value proposition: with a living area of 1,193 sq ft, it offers above-average space for its immediate street and is on par with the neighbourhood average, yet it carries an assessed value that is notably below average for the area. This disconnect suggests potential for buyers comfortable with a project. The home sits on a modest, sub-3,000 sq ft lot and features a basement that is present but not renovated.
The appeal lies in its positioning as an entry point into a established community. It suits a specific type of buyer: the value-conscious purchaser, perhaps a first-time homebuyer or an investor, who is prepared to invest sweat equity or capital into updates. The home’s age means it likely possesses classic character, but also requires a practical eye for maintenance and modernization. It’s a property where the financial entry point is low relative to the neighbourhood, making it less about immediate move-in readiness and more about long-term potential and location.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby averages?
A significantly below-average assessment, especially for an older home, often reflects its current condition and lack of recent major updates. It typically indicates that the property is being assessed based on its present state, not its potential after renovations.
2. What does "basement not renovated" imply?
This typically means the basement is in its original or utilitarian state. Buyers should budget for potential updates to moisture management, insulation, and finishes to make it a comfortable living space, and should anticipate a professional inspection.
3. Is the smaller lot size a major drawback?
While below average in size, the lot may offer lower maintenance, which can be an advantage for some. Its impact depends on your lifestyle; it may limit extensive landscaping or additions but could be sufficient for a patio or garden.
4. Given its age, what should I be most concerned about?
Homes from this era may have outdated plumbing, electrical systems, and insulation. A thorough inspection is crucial to understand the scope of needed updates, from knob-and-tube wiring to foundation integrity and energy efficiency.
5. The recent sold price range seems very low. Is this accurate?
The provided range is based on public data. For an exact sale price, you must request it directly from the source. Prices in this range for a house often indicate a sale "as-is," possibly to an investor or a buyer planning significant renovations.