Property Overview: 225 Egerton Road, Glenwood, Winnipeg
Key Characteristics & Appeal
This 4-level split home, built in 1976, stands out for its generous proportions and strong value metrics within its established Glenwood neighbourhood. The nearly 2,000 sqft of living space is notably above average for both the street and the wider city, offering ample room for a growing family or those who value spacious interiors. A key feature is the renovated basement, adding modern, functional living space. The property sits on a large, roughly 6,500 sqft lot that is considered elite for the Glenwood area, providing excellent outdoor space relative to many local homes.
The appeal lies in its combination of space, a premium lot, and a sense of solid value. Its assessed value ranks in the top tier (top 1-4%) across all comparison levels—Egerton Road, Glenwood, and citywide—suggesting it is perceived as a substantial and well-regarded property. This home would best suit buyers looking for a established, roomy family home in a mature neighbourhood, who prioritize interior space and a sizable yard over a brand-new build. It’s a property for those who see value in a home that already has a renovated lower level and offers metrics that consistently outperform its peers.
Frequently Asked Questions
1. How does the home’s age (1976) affect its value?
While not a new build, the year is actually above average for both the street and Glenwood. The renovated basement indicates updates have been made. Buyers should focus on the condition of major 50-year-old components like the roof, windows, and foundation, as the core value here is in the space and lot.
2. The assessed value seems high for the area. What does that mean?
The assessed value of $76,800 is in the elite tier for Glenwood, meaning the municipality views this as one of the neighbourhood's more substantial properties. This typically reflects its larger living area and lot size compared to area averages. It's a strong indicator of the property's baseline value, though market sale price can vary.
3. Is the lot size a major advantage?
Yes, particularly within Glenwood. The lot ranks in the top 5% of the neighbourhood, meaning you get significantly more outdoor space than most nearby properties. On Egerton Road itself, the lot is around average, so this is a feature that makes the home stand out more in the broader community context.
4. What can the 2016 sale price range tell me?
The prior sale price (approx. $56.5k-$59.5k) provides a historical benchmark. The significant increase to the current assessed value suggests substantial appreciation, likely due to market trends, the basement renovation, and the property's inherent desirable traits (space, lot).
5. Who would this home not suit as well?
Buyers seeking a modern, open-concept layout or a brand-new, low-maintenance property may find the 4-level split style and age less ideal. Similarly, those with mobility concerns might prefer a bungalow or two-storey over multiple split levels. It’s a home for those who value space and land over the latest floorplan trends.