Property Overview: 11 Stranmillis Avenue, Glenwood, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1913, situated on a standard city lot in the Glenwood neighbourhood. Its key characteristic is its notably low municipal assessed value, which ranks it at the very bottom for its street and well below averages for the area and city. With 695 sqft of living space, it is significantly smaller than most comparable homes. The basement exists but is noted as not renovated, and the property includes a detached garage.
The primary appeal lies in its position as an entry-point property. It represents one of the most accessible price points in the market, suited for a very specific buyer: an investor looking for a rental property with minimal upfront capital, a hands-on homeowner prepared for a full-scale renovation, or someone seeking the absolute lowest cost of entry into homeownership. Its value is not in its current condition or size, but in its potential and land value. A thoughtful perspective is that a home of this age and assessment may allow for property tax savings compared to neighbouring, updated homes, providing a cash-flow advantage for an investor or a budget breather for an owner-renovator.
Section 2: Frequently Asked Questions
1. Why is the assessed value so low?
The assessment reflects the home's age, very small living area, and likely its current condition, including an unrenovated basement. It is assessed purely as an older, compact dwelling without modern updates.
2. What type of renovation would this home need?
Given its age and the note on the basement, it likely requires comprehensive updating. This could include foundational, electrical, and plumbing work, a modernized layout to maximize the small footprint, and full interior finishing. The unrenovated basement presents both a challenge and an opportunity to add liveable space.
3. Is this a good investment property?
For a cash-focused investor, the low entry cost can improve initial rental yield calculations. However, this must be balanced against probable higher maintenance costs and renovation needs to make it tenant-ready. It’s a higher-management, value-add opportunity rather than a turnkey investment.
4. How does the lot size compare?
At just under 2,550 sqft, the lot is smaller than most on the street and in the area. This means less outdoor space but also lower maintenance. It is a standard city lot for an older neighbourhood, not a sub-divided or unusually small parcel.
5. The sold price history shows a range. What does that mean?
The listed sold price is an estimate derived from public data. To obtain the exact sale price from the October 2024 transaction, you must request it directly via the provided email service. This is a common practice for sites that compile automated data from public sources.