88 Fifth Avenue

Property Summary: 88 Fifth Avenue, Glenwood, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a distinct value proposition centered on its land. The standout feature is the 6,148 sqft lot, which is notably larger than most in the immediate area and ranks in the top 7% within the Glenwood neighbourhood. This offers significant potential for expansion, gardening, or outdoor living that is uncommon for the location. The home itself is modest, reflected in its below-average assessed value. Recent sales data indicates it is a very affordable entry point into the Winnipeg market.

Its primary appeal lies in being a land-value opportunity. It suits a specific type of buyer: those with a longer-term vision, such as an investor looking to hold the lot for future development, a handy homeowner planning a substantial renovation or rebuild, or a first-time buyer prioritizing lot size and affordability over a move-in-ready condition. It is not suited for someone seeking immediate modern finishes or a turnkey home.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessed value is primarily based on the current state and size of the dwelling. The modest home characteristics result in a lower assessment, which is reflected in its property tax obligations.

2. What can I do with such a large lot?
Beyond a spacious yard, the lot size may allow for future additions, like an extension, a garage/workshop, or even a legal secondary suite (subject to zoning and city approvals). It provides flexibility that smaller lots do not.

3. How reliable are the recent sold price ranges shown?
The ranges are derived from public data. For precise historical sale figures, you can request the exact sold prices via the provided email service, which is manually verified.

4. What does the ranking data (e.g., "Top 6%") actually tell me?
It contextualizes the property against its peers. For example, a "Top 6%" rank for Land Area means the lot is larger than 94% of other lots on the same street. Conversely, a lower rank for Assessed Value indicates the home is valued less than most comparable properties.

5. The home appears very basic. What are the immediate considerations?
Prospective buyers should budget for potential updates or repairs. It is highly advisable to factor in a thorough inspection to understand the condition of the foundation, roof, and major systems, as the value here is fundamentally in the land.