Property Overview: 233 Gilmore Avenue, Winnipeg
Key Characteristics & Appeal
This 1959-built home in River East presents a practical opportunity centered on its land and location. At 975 sq ft, the living space is notably below average for the street, neighborhood, and city, indicating a compact, manageable footprint. Its assessed value of $321K sits below local averages, suggesting a potentially accessible entry point into the area.
The primary appeal lies in its generous 5,862 sq ft lot, which is above average for Gilmore Avenue. This creates a clear value proposition: a larger-than-typical yard in a mature neighborhood, ideal for gardening, outdoor living, or future expansion. The home last sold between $250K-$300K in late 2020, positioning it as a more affordable option in its vicinity.
This property would best suit first-time buyers or downsizers seeking a lower-maintenance home with outdoor space, without the premium price of a larger house. It’s a pragmatic choice for those who prioritize lot size over interior square footage and see potential in a solid, older home. Investors or renovators might also see value in the lot size and the price point relative to assessed value.
Frequently Asked Questions
1. Is the below-average living area a major concern?
It depends on your needs. The 975 sq ft layout is compact, which means efficient use of space is key. It may suit smaller households or those comfortable with cozier quarters, but growing families might find it limiting without plans to renovate or expand.
2. How does the assessed value relate to the likely selling price?
The $321K assessment is a municipal valuation for tax purposes, not a market price. Given it’s below area averages and the home last sold for less, it may indicate a realistic or even conservative starting point for buyers, but always rely on a current market evaluation.
3. What are the implications of the larger lot size?
The above-average lot is a significant asset. It offers more private outdoor space than most homes on the street and provides flexibility for additions, a garage, or landscaping projects—options that are often limited on standard-sized lots in mature neighborhoods.
4. The home was built in 1959. What should I consider?
As one of the older homes on the street, a thorough inspection is essential. While it may have classic charm, focus on the condition of major systems (roof, plumbing, electrical, foundation) and insulation. Its age, however, often comes with solid construction and mature landscaping.
5. How reliable is the previous sold price data from 2020?
The sold price range ($250K-$300K) is based on public records, not the MLS, and the market has shifted since 2020. It’s a useful historical benchmark, but not a definitive guide to current value. For verified, exact historical figures, you must request a manual lookup from the site.