Property Overview
103 Bank Avenue is a compact, one-storey home in Winnipeg's Glenwood neighborhood. Built in 1927, its 632 sqft of living space is notably smaller than most homes in the area, placing it in the bottom 10% for size on its own street. This is balanced by a renovated basement and a detached garage. The lot size of 3,561 sqft is also below the local average but provides outdoor space. The home's assessed value is significantly lower than both neighborhood and citywide averages, reflecting its modest scale and age. It last sold in mid-2017 for an estimated $17.5k to $20.5k.
Key Characteristics & Appeal
This property’s primary appeal lies in its affordability and simplicity. It represents a very accessible entry point into homeownership, with property taxes likely to be correspondingly low due to its low assessed value. The renovated basement adds functional living space, which is a crucial upgrade given the small main-floor footprint. Its appeal is niche: it would suit a minimalist buyer, an investor looking for a straightforward rental property, or someone seeking a small footprint with lower ongoing costs. It’s not a home for those needing space, but it offers a rare opportunity for uncomplicated, budget-conscious ownership. A thoughtful perspective is that this type of property can serve as a practical financial tool—a way to build equity with a very low barrier to entry—rather than just a lifestyle choice.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value is based heavily on the home's very small living area (632 sqft) and its age (1927), making it valued significantly below typical Winnipeg homes.
2. What does "renovated basement" mean in this context?
While specific details aren't provided, it indicates the basement has been updated to be functional living space, which is essential for adding usable area to this compact home.
3. Who would this property be most suitable for?
It's best suited for first-time buyers or investors with a very tight budget, minimal space needs, or those specifically seeking a low-cost property for its equity-building potential.
4. How does the lot size compare?
At 3,561 sqft, the lot is below the average for Glenwood but still provides a decent outdoor area for a home of this size.
5. How can I find out the exact past sale price?
The listed sale price is a public data range. You can request the exact sale price by emailing the site via the "Get exact sold price history" button; they provide the figure manually without using your email for marketing.