Property Overview: 48 Essex Avenue, Glenwood, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1929, offering a straightforward and affordable entry into Winnipeg’s Glenwood neighbourhood. With 616 square feet of living space, it is notably smaller than most homes in the area and city-wide, positioning it as a minimalist or starter option. The lot size of 3,845 sqft is fairly typical for the street and provides decent outdoor space relative to the home's footprint.
Its primary appeal lies in its low financial barrier to entry, underscored by a modest assessed value that is average for Essex Avenue but below the wider area averages. The home has an unfinished basement and no garage, presenting a clean slate for future improvements. It would suit a first-time buyer, an investor looking for a rental property, or someone seeking a downsized, low-maintenance living arrangement. A thoughtful perspective for a buyer is the potential to use the proportionally larger lot compared to the home's size for gardening, outdoor living, or even a future expansion, which is a less common opportunity in this price range.
Section 2: Frequently Asked Questions
1. How does the size of this home compare to others?
At 616 sqft, the living area is below average for the Glenwood neighbourhood and significantly smaller than the typical Winnipeg home. It ranks in the bottom 10% locally for size.
2. Is the assessed value a reliable indicator of the selling price?
The assessed value is $23,800, which is around average for Essex Avenue. However, recent sold prices on the street (like 34 Essex at ~$21.5k-$24.5k in 2020) and similar assessed values city-wide suggest this is a very low-price-point property. Market conditions and the home's condition will determine the final sale price.
3. What does the "unfinished basement" mean for potential?
The basement is noted as "not renovated," meaning it is in a raw state. This offers flexibility for future development (like adding living space or storage) but will require a significant investment to finish.
4. What are the implications of the 1929 build date?
Built 97 years ago, the home is older than most in the city. Buyers should budget for potential updates to older mechanical systems, insulation, or windows, and ensure a thorough inspection.
5. How does the property rank for land value?
The land area is around average for the street but below average city-wide. Its ranking suggests the value is primarily in the land itself, which is a common scenario for older, smaller homes in established neighbourhoods.