Property Overview: 98 Cobourg Avenue, Glenelm, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1925, presents a compelling mix of character and practicality in the established Glenelm neighbourhood. Its key appeal lies in its significant investment potential and desirable location, as evidenced by its elite-level assessed value on its own street and above-average assessment for the wider area. This suggests the property is viewed as a premium holding within its immediate context. The living space is practical and in line with neighbourhood averages, and it benefits from a renovated basement, adding functional living area.
The property’s standout trait is its high assessment relative to its physical dimensions. The lot is smaller than most in the area, which may appeal to buyers seeking lower maintenance outdoor space without sacrificing location. This combination suits value-conscious buyers, including investors looking for a property with strong assessed value fundamentals, or owner-occupants who prioritize location and interior condition over a large yard. It’s a home that offers more in terms of perceived value and neighbourhood standing than in sheer square footage.
Section 2: Frequently Asked Questions
1. Why is the assessed value so high compared to the lot and living area?
The assessed value, which is elite for the street and above average for Glenelm, is likely driven by the home's condition, specific improvements (like the renovated basement), and its desirability within this specific location. It reflects the property's premium market position in a sought-after pocket of the neighbourhood.
2. What does the smaller lot size mean for me?
The lot is below average in size for both the street and Glenelm. This typically translates to less yard maintenance, which can be a benefit for those seeking a lower-upkeep property. However, it may limit options for large additions, decks, or extensive landscaping.
3. How does the sold price history relate to the assessed value?
The most recent sold price range (July 2024) is closely aligned with the current assessed value. This indicates the assessment is recent and reflects very recent market activity, providing a solid benchmark for the property's worth.
4. Is a home from 1925 a concern?
While the age is average for the area, a 101-year-old home will have its own character and potential needs. The renovated basement is a positive update, but buyers should still budget for and investigate the condition of major aging components like the roof, plumbing, and electrical systems.
5. Who are the typical neighbours or buyers in this area?
Given the high assessment relative to lot size, the area likely attracts a mix of long-term residents who value the established community and newer buyers or investors who appreciate the character of Glenelm and are making strategic purchases based on value and location over expansive property size.