Property Overview: 298 Glenwood Crescent, Winnipeg
Key Characteristics & Appeal
This two-storey home in the Glenelm neighbourhood presents a compelling mix of space, land, and location. Its primary appeal lies in its generous proportions: at over 2,000 sqft of living space, it ranks in the top 10% for size both on its street and city-wide. The standout feature, however, is the land. The lot of over 10,400 sqft is exceptionally large, placing it in the elite top 2% within Glenelm and the top 5% across Winnipeg, offering significant outdoor potential and a rare sense of privacy for an inner-city area.
Built in 1922, the home is a classic character property. The data suggests it's a solid, unrenovated canvas, featuring a detached garage and a basement that has not been modernized. Its assessed value is above average for the well-regarded Glenelm area, indicating a desirable location, but is around average when compared to the immediate street and the wider city—hinting at a value proposition centred on the land and square footage rather than high-end finishes.
This property would best suit a specific type of buyer: those who prioritize space and land over move-in-ready perfection. It’s an ideal project for a hands-on homeowner looking to customize a character home, a family seeking a large yard in a established community, or an investor who recognizes the inherent value in a lot of this size in a central neighbourhood. The appeal is less about current luxury and more about tangible assets and long-term potential.
Frequently Asked Questions
1. What does "basement not renovated" typically imply?
It generally means the basement retains its original or older state, likely with foundational systems (like plumbing, electrical, and insulation) that are functional but dated. It presents an opportunity to finish the space to modern standards according to your own needs and taste.
2. How significant is the lot size in practical terms?
A 10,400 sqft lot in this area is substantial. It provides ample space for gardening, recreation, and outdoor living, with potential for additions like a garage, workshop, or even future subdivision, subject to zoning. It's a feature that is increasingly rare and cannot be added to an existing property.
3. The home is older—what should I consider?
A 1922 build offers classic charm but requires due diligence. Prospective buyers should budget for potential updates to major systems like wiring, plumbing, and heating, and should prioritize a thorough inspection to understand the condition of the roof and foundation.
4. The assessed value seems lower than the last sale price. Why?
Municipal assessed value for property tax purposes often lags behind current market values and uses a different valuation method. The 2022 sale price is a clearer indicator of its recent market worth, while the assessment suggests its value is not an outlier compared to area averages.
5. Is the detached garage a benefit or a drawback?
This depends on preference. A detached garage offers flexibility—it can be a workshop or studio without affecting the main house. However, it means navigating the outdoors to access your vehicle, which can be less convenient in winter than an attached garage.