Property Overview
110 Fifth Avenue is a compact, one-and-three-quarter storey home in Winnipeg's Glenwood neighborhood. Built in 1917, it presents a straightforward opportunity centered on its established location and value. The home has 864 square feet of living space, an unfinished basement, and sits on a 3,074 sqft lot, with no garage or pool. Its assessed value is $26,800.
Key Characteristics & Appeal
This home’s primary appeal lies in its position as an affordable entry point into the Winnipeg market within a mature neighborhood. It suits a specific buyer: someone seeking a low-cost base, perhaps a first-time buyer comfortable with a project, an investor looking for a rental property with minimal upfront capital, or someone wishing to downsize and reduce carrying costs significantly. Its value is contextual—while its living area and assessed value are around average for its immediate street and Glenwood area, they are below the city-wide averages, highlighting its local affordability.
A thoughtful perspective is that a home of this age and size offers a manageable footprint for energy efficiency upgrades or a careful renovation, allowing for customization without the scale of a larger project. Its below-average lot size for the city might also mean less maintenance, which can be a practical advantage. The sales history suggests stable, modest value in its niche, making it less about speculation and more about utility and cost-effective living.
Frequently Asked Questions
1. What does "one & 3/4 storey" mean for this home?
Typically, this style features a full main floor and a second floor under a sloped roof where the ceiling height and usable space are somewhat reduced, often creating cozy bedrooms or attic-like spaces.
2. How does the assessed value relate to the likely selling price?
The assessed value of $26,800 is for municipal tax purposes. Recent sale data for this property shows prices ranging from $14.5k-$17.5k in early 2021 to $27.5k-$30.5k in mid-2021, indicating market price can vary and may be closer to these recent sale ranges.
3. What should I consider about the unfinished basement?
The basement provides utility space and storage but is not renovated for living space. Check for moisture, foundation integrity, and the condition of mechanical systems like the furnace and water heater, which are likely housed there.
4. Is the lack of a garage a major drawback?
It depends on your needs. Many older homes in central neighborhoods lack garages. On-street parking is typical, so consider your vehicle usage and local parking regulations.
5. Why is the land size noted as "below average"?
The lot is 3,074 sqft, which is smaller than many lots in newer suburban areas. In an older neighborhood like Glenwood, this is more common. It means a smaller yard to maintain but may also limit expansion possibilities.