Property Overview
79 Bank Avenue is a compact, one-storey home in Winnipeg's Glenwood neighbourhood. Built in 1927, its primary appeal lies in being an accessible entry point into homeownership. With a living area of 704 sqft and a notably low assessed value, it represents one of the most modestly scaled and priced properties in the area. The detached garage and a land area of 3,761 sqft offer practical utility and potential for outdoor space. Its appeal is for the budget-conscious buyer seeking a straightforward, no-frills property where the land and location provide the core value, not the size or condition of the dwelling. It would suit an investor looking for a rental property, a first-time buyer willing to live modestly while building equity, or someone seeking a minimal footprint with lower carrying costs.
A thoughtful perspective is that this home's below-average metrics in a stable area like Glenwood could represent a "value floor." While the house itself is small and older, it provides a foothold in a community where similar properties are often significantly larger and more expensive, offering a unique chance to enter the market at its most basic level.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's very modest size, age, and likely its condition and features compared to the broader Winnipeg market, which includes many larger, newer homes.
2. What does the "below average" ranking for living area mean for daily life?
With 704 sqft of living space, this is a compact home. It would typically accommodate one or two people comfortably and requires efficient use of space and minimal possessions.
3. Given the home's age, what should a buyer prioritize during an inspection?
A buyer should focus on the fundamental systems: the foundation, roof, wiring, and plumbing. Homes from this era may have outdated materials or wear that needs addressing.
4. How does the land size (3,761 sqft) compare, and what are the possibilities?
The lot is slightly smaller than the Glenwood average but is still a good size. It allows for a decent yard, garden space, or potential for a future shed or addition, subject to local bylaws.
5. The last recorded sale was in 2021 for a very low price. What does that indicate?
This confirms the property's position as a low-cost option. It suggests the market for such a compact, older home is niche, but it also highlights a potential opportunity for significant equity gain if the area appreciates, even with minimal investment in updates.