Property Overview: 131 Bank Avenue, Winnipeg
Key Characteristics & Appeal
This one-storey home in Glenwood presents a practical and value-conscious opportunity. Its key appeal lies in a balance of modest scale and above-average land size. With 804 sqft of living space, the house itself is compact, ranking around average for its street and neighbourhood but below average citywide. However, it sits on a 5,018 sqft lot, which is notably larger than many on Bank Avenue and in Glenwood, offering valuable outdoor space and potential.
The home’s renovated basement adds functional living area, and it includes a detached garage. Built in 1951, its age is typical for the area. From an investment perspective, its assessed value consistently ranks above average for both the immediate street and the wider Glenwood neighbourhood, suggesting it is viewed favorably relative to its local peers. This combination suits first-time buyers, downsizers, or practical investors looking for a manageable home with a generous yard in an established area, without the premium for excessive square footage.
Frequently Asked Questions
1. How does this home’s value compare to others nearby?
The assessed value of $33,500k ranks above average for both Bank Avenue and the Glenwood neighbourhood, indicating it is considered a higher-value property within its immediate context compared to peers.
2. Is the living space considered small?
At 804 sqft, the living area is around average for Bank Avenue and Glenwood but is below the Winnipeg citywide average. It represents a more compact, efficient footprint.
3. What is the significance of the large lot size?
The 5,018 sqft lot is a standout feature, ranking in the top 13% on Bank Avenue. This offers more private outdoor space than most neighbouring properties and could be a long-term asset.
4. When was it last sold and for how much?
Public records indicate a sale between August 2021, with a price range of $37.50k to $40.50k. The exact sale price can be provided upon request.
5. What are the property taxes likely to be?
Property taxes are calculated based on the assessed value and the annual municipal mill rate. With an assessed value of $33,500k, you can estimate taxes by applying the current Winnipeg mill rate to this figure.