Property Overview: 80 Cobourg Avenue, Glenelm, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1931, presents a straightforward opportunity in Winnipeg's Glenelm neighbourhood. With 1,096 sqft of living space and a full, unrenovated basement, it sits on a modest, sub-3,000 sqft lot. The home lacks a garage or pool. Its assessed value is notably low compared to the Winnipeg city-wide average, but is typical for its immediate area.
The primary appeal lies in its position as an affordable entry point into a mature, established neighbourhood. It suits a specific buyer: someone seeking a lower-cost property to live in while undertaking gradual renovations, or an investor looking for a rental property with a manageable entry price. The home’s age (95 years) is actually above average for Glenelm, suggesting it is among the more recent builds in a historic area—a less obvious point that indicates potentially fewer immediate concerns than some of its older neighbours. However, the below-average living and land area compared to nearby homes means space is at a premium, favouring buyers with simpler needs or those viewing the lot itself as the long-term value.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
This is common for older homes in established neighbourhoods like Glenelm. The assessment reflects values within its specific local market, not the broader city where newer suburbs and larger lots drive averages up.
2. What does "full, unrenovated basement" imply?
It means the basement is developed (finished) but has not been modernized. Buyers should budget for potential updates and should prioritize a thorough inspection for moisture, insulation, and mechanical systems common in homes of this era.
3. The home last sold in 2023. Is that a concern?
Not necessarily. The brief ownership could indicate an investor’s quick turnover or a change in the previous owner's circumstances. It underscores the importance of understanding the recent sale context, which a real estate agent can help investigate.
4. How does the lack of a garage affect daily living?
On-street parking will be the norm. This is typical for the area but requires consideration for winter parking bans, visitor parking, and personal convenience.
5. Is the land size a limitation for expansion or outdoor use?
The lot is smaller than many in Glenelm and city-wide. While it allows for easier maintenance, it may limit possibilities for large additions, decks, or extensive landscaping. Any future expansion plans would need to carefully consider setback requirements.