Property Overview: 1-59 Guay Avenue, Winnipeg
Key Characteristics & Appeal
This bi-level home at 1-59 Guay Avenue in Glenwood is a modern property built in 2019, offering a move-in-ready foundation with the benefits of a newer build. Its key appeal lies in a combination of above-average space and a premium lot size for its immediate area. With 1,137 sqft of living space and a renovated basement, it provides practical, contemporary living. The standout feature is the 5,593 sqft lot, which is significantly larger than most in the neighbourhood, offering ample outdoor potential.
The property’s most striking characteristic is its assessed value of $76,300, which ranks in the top 1% for both Guay Avenue and the wider Glenwood area. This indicates it is viewed as a high-value asset compared to its peers, many of which are much older. The home suits buyers looking for a modern, low-maintenance property without sacrificing yard space. It would particularly appeal to a young family seeking room to grow in a settled neighbourhood, or to a value-conscious buyer who understands that a high assessment relative to local averages can be a double-edged sword—it suggests a premium property now, but also requires consideration for future property tax implications.
Frequently Asked Questions
1. Why is the assessed value so much higher than neighbouring homes?
The assessment reflects the property's modern build (2019), its renovated basement, and its larger-than-average lot size. It is valued as a newer, turn-key home in an area with many older properties.
2. What does the "Elite" ranking for assessed value mean for property taxes?
While an "Elite" ranking signifies the home is considered a top-tier asset in the area, it typically correlates with higher property taxes compared to neighbouring, older homes. It's advisable to research the exact tax amount.
3. Is the lot size a practical benefit?
Yes. At nearly 5,600 sqft, the lot is well above the local average, providing generous space for gardening, recreation, or future additions like a shed or deck. This is a notable advantage in a mature neighbourhood.
4. The home last sold in early 2018. What should I consider?
As a 2019 build, the 2018 sale likely reflects the purchase of the lot or a pre-construction price. The current value has appreciated significantly since then, reflecting the completed home. A buyer should focus on recent comparable sales of similar aged homes.
5. There is no garage. How does this impact the property?
The lack of a garage is a trade-off for the larger lot. It means more yard space but requires reliance on driveway parking. The lot size does offer potential for adding a garage in the future, subject to local bylaws and permits.