199 Hespeler Avenue

Property Overview

This one-and-a-half storey home on Hespeler Avenue in Winnipeg's Glenelm neighbourhood presents a distinct opportunity. Built in 1911, it offers 1,162 sqft of living space, which is modest but on par with area averages. The property sits on a 3,034 sqft lot. Its most defining characteristic is its exceptionally low assessed value of $12,300, placing it at the very bottom of the scale for comparable homes locally and citywide. The home has an unrenovated basement and no garage. Historical data shows it last sold in 2016 for a very low price range.

Key Characteristics & Appeal

The primary appeal of this property is its potential as a blank-canvas project or investment entry point. Its extremely low assessed value and historical sale price suggest it is a fixer-upper, likely requiring significant renovation or complete redevelopment. This makes it suited for buyers such as contractors, seasoned DIY renovators, or investors looking for a lot value play in an established neighbourhood. Its lot size, while below average for the city, is quite generous for the immediate street and offers space for expansion or landscaping.

A more thoughtful perspective is that it offers a rare chance for equity building through sweat equity, rather than a large initial capital outlay. It would not suit a first-time buyer seeking a move-in-ready home or anyone uncomfortable with a major project. The Glenelm location provides the appeal of a mature community with character, but the condition of this specific property means the neighbourhood amenities are a future benefit, not an immediate convenience.

Frequently Asked Questions

1. Why is the assessed value so low?
A very low assessed value typically indicates that the property is in poor condition, may be functionally obsolete, or is assessed primarily for its land value rather than the existing structure.

2. What does "basement, not renovated" imply?
This usually means the basement is in original or rough condition. It may be unfinished, have moisture issues, outdated systems, or simply lack modern finishes. A professional inspection would be essential.

3. Who would this property be most suitable for?
It is a project property. The most likely buyers are investors, developers, or experienced renovators with the resources and expertise to significantly update or rebuild the home.

4. How reliable are the historical sold price ranges shown?
The ranges are based on public data. For precise historical sale figures, you must request the exact sold price history via email from the source, as the public records may be incomplete or estimated.

5. Is the land large enough for a new build or addition?
The lot is approximately 3,034 sqft. While below the Winnipeg city average, it is a workable size. Any plans for a new build or major addition would require careful review with the City's zoning bylaws and permitting process to understand setbacks and buildable area.