Property Overview & Key Characteristics
14 Bank Avenue is a compact, one-storey home built in 1945, situated on a standard-sized lot in Winnipeg's Glenwood neighbourhood. Its primary defining characteristic is its modest scale, with a living area of 673 sqft that places it well below average for the street, neighbourhood, and city. This is reflected in its assessed value, which is also significantly lower than surrounding averages.
The appeal of this property lies squarely in its position as an entry-point opportunity. It represents one of the most accessible price points in its area, suited for a very specific buyer. It would be an ideal match for a hands-on first-time buyer looking for a foothold in the market, an investor seeking a straightforward rental property, or someone interested in a knockdown-rebuild project on a established lot. Its value is not in its current condition or size, but in its potential and land value. A less obvious perspective is that a home of this size and vintage, while requiring updates, can also promote a simpler, more efficient lifestyle without the maintenance burden of a larger property.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based heavily on the home's very small size (673 sqft) and likely its original condition, as it hasn't been substantially renovated or expanded since 1945. It's assessed as a modest starter home, not a modernized property.
2. Who would this property suit best?
It best suits a budget-conscious first-time buyer comfortable with renovation work, or an investor looking for a rental property with a lower initial investment. Its value is primarily in the land and location.
3. What are the main drawbacks to consider?
The living space is notably small—about 25% smaller than the average home on its own street. It also lacks common features like a basement, garage, or pool, and will likely require modernization.
4. Is the land size a positive aspect?
Yes. While the house is small, the lot is a standard neighborhood size (approx. 4,500 sqft). This is a key asset, offering decent outdoor space and future potential, whether for gardening, expansion, or redevelopment.
5. How does it compare to nearby sold properties?
Based on available data, it last sold in 2016 for a price range consistent with a very modest, entry-level home. Its value proposition remains similar: it's a comparative bargain for the area, with the understanding that value comes from the lot and location, not the current structure.