Property Summary: 24 Fifth Avenue, Glenwood, Winnipeg
Key Characteristics & Appeal
This 2018-built bi-level home offers a rare combination of modern construction and established neighborhood living in Glenwood. With 928 sqft of living space and a renovated basement, its key appeal lies in its "like-new" condition without the premium of a brand-new subdivision. The home sits on a smaller, low-maintenance lot (3,074 sqft), which is a practical trade-off for less yard work.
Its standout characteristic is its strong assessed value relative to the area, ranking in the top 20% in Glenwood and top 28% on its own street. This suggests it is viewed as a well-maintained, valuable asset compared to many older homes nearby. The property suits first-time buyers seeking a move-in-ready home with modern systems, or downsizers looking for a manageable, contemporary layout without the upkeep of a larger property or yard. A less obvious perspective is its potential as a strategic hold in a neighborhood with many older homes; its newer age could mean fewer major repairs in the medium term, offering predictable costs.
Frequently Asked Questions
1. Is the smaller lot size a disadvantage?
It depends on your lifestyle. The lot is below average in size for the city and street, which means less private outdoor space. However, this translates to lower maintenance, less time spent on yard work, and potentially lower water bills, which can be a significant advantage for busy professionals or those looking to downsize.
2. Why is the assessed value notably higher than many area homes?
The primary driver is likely the home's age (2018). Newer construction typically commands a higher assessment due to modern building codes, materials, and systems. The renovated basement also adds to the liveable square footage and overall value.
3. What does the "Top 81%" citywide ranking for living area mean?
This means the home's interior square footage is smaller than about 81% of comparable homes across Winnipeg. This confirms it's a compact, efficient home. Buyers should ensure the layout and 928 sqft (plus basement) meets their spatial needs.
4. How does the 2023 sale price range compare to the current assessed value?
The home sold for an estimated $39.5k-$42.5k in mid-2023. The current assessed value is $37.1k. This alignment suggests a stable market valuation, with the assessment reflecting recent market activity. It's always wise to have a current market appraisal done.
5. What are the implications of having no garage?
This is a key consideration for Winnipeg winters. You will need to budget for street parking (considering parking bans) or the potential addition of a parking pad or shelter. The lack of a garage also affects storage, so the basement's renovated condition becomes more important for utility and storage space.