Property Overview
117 Vivian Avenue is a compact, one-storey home built in 1917, situated on a standard-sized lot in Winnipeg's Glenwood neighbourhood. Its primary appeal lies in its position as an accessible entry point into the housing market. With a living area of 793 sqft and a recently renovated basement, it offers functional space at a scale that is manageable and efficient. The home's assessed value is notably below averages for its street, neighbourhood, and city, which directly translates to lower property taxes—a significant, ongoing financial advantage.
This property would suit first-time buyers, downsizers, or practical investors seeking a straightforward, low-maintenance footprint. Its value is pragmatic rather than luxurious. A thoughtful perspective is that this home represents a "blank canvas" opportunity within an established area; its below-average metrics for size and assessment are not just limitations, but can be seen as a foundation for building equity without the premium price tag of a larger or fully modernized home. It’s for a buyer who prioritizes location and fiscal efficiency over square footage.
Frequently Asked Questions
1. What are the ongoing cost advantages of the low assessed value?
The home's assessed value is significantly below area averages, which results in substantially lower annual property taxes compared to most homes in Glenwood and across Winnipeg.
2. Is the 793 sqft living area practical for daily life?
The layout and renovated basement must be evaluated in person. While below the city average, the space can be efficient for individuals, couples, or small families who prioritize minimalism and low maintenance. The basement renovation adds crucial functional space.
3. What should I consider about a home built in 1917?
While the basement has been renovated, the core structure is over a century old. A thorough inspection is essential to understand the condition of major aging components like the foundation, plumbing, and electrical systems, which may require updates.
4. How does the land size (2,555 sqft) affect future potential?
The lot is average for Vivian Avenue but below the neighbourhood norm. This limits possibilities for large additions but is sufficient for a garden or patio. It’s a manageable size for those not wanting extensive yard work.
5. The sold price history shows a sale in 2020. What does that indicate?
The 2020 sale price range suggests the property has been an affordable entry point for some time. This history can provide a benchmark, but current market conditions and any updates made since then will determine today's value.