Property Overview & Appeal
76 Essex Avenue is a compact, one-storey home in Winnipeg's Glenwood neighborhood, built in 1944. Its primary characteristic is a significant contrast: the house itself is modest, with a living area (624 sq. ft.) that ranks below average for the street, neighborhood, and city. However, it sits on a generously sized lot (5,122 sq. ft.) that ranks in the top 5% on its street and well above average for Glenwood. It features a detached garage and an unrenovated basement. The most recent sold price data (Fall 2023) indicates a value in line with its relatively low municipal assessment.
The appeal here lies in the land and the potential it represents. This property is not a move-in-ready showhome; it’s a foundational opportunity. It would best suit a buyer with a vision—perhaps someone looking for a starter home with immense yard space for gardens, pets, or future expansion, or an investor considering the value of the large lot in the long term. It’s also a candidate for those comfortable with a project, as the basement and the overall living space present clear opportunities for updates and personalization. The low assessment and recent sale price point make it one of the more accessible entry points into the market, offering equity in the form of land rather than finished square footage.
Frequently Asked Questions
1. Why is the living space so much smaller than average?
As a one-storey home built in the 1940s, its footprint is characteristic of many post-war houses. The data confirms it is notably compact compared to most homes in Winnipeg today, emphasizing its status as a cozy starter home or a blank-slate project.
2. What does the "Elite" ranking for Land Area actually mean?
This means the lot size of over 5,000 sq. ft. is larger than approximately 95% of the lots on Essex Avenue. In the broader Glenwood area, it still ranks above average. This is the property's standout feature, offering rare outdoor space for the area.
3. Is the low assessed value a concern?
Not necessarily. The assessed value is used for calculating property taxes and is often lower than market value. In this case, it reflects the home's modest size and condition. The more relevant figure is the recent sold price range (Fall 2023), which provides a clearer picture of its market value.
4. What could the large lot be used for?
Beyond a large private yard, the lot size opens up future possibilities that a standard city lot does not, such as adding a significant addition, building a detached workshop or studio (subject to zoning bylaws), or simply enjoying expansive green space. This flexibility is a key part of the property's value.
5. The basement is noted as "not renovated." What should I expect?
This typically indicates an original or largely unfinished space that may require significant work to modernize. Buyers should budget for and anticipate potential updates to insulation, flooring, and amenities if they wish to utilize it as comfortable living or storage space.