Property Overview: 248 Gilmore Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,040 sqft home on Gilmore Avenue in River East presents a practical and affordable entry point into the Winnipeg market. Built in 1972, its living space and assessed value ($320k) sit around the city-wide average, offering a squarely middle-of-the-road offering in terms of size and official valuation. The appeal here is grounded in value and stability rather than standout features. It suits first-time buyers or practical investors looking for a home that requires no premium for above-average size or a newer build, and who prioritize a lower purchase price relative to both the immediate neighborhood and the broader city.
A more nuanced perspective lies in its context. While the home itself is average for the city, it is priced below the averages for its own street ($347k) and the River East neighborhood ($401.1k). This could represent a value opportunity for a buyer comfortable with a smaller lot (4,783 sqft, which is below average for the area) who sees potential in the structure itself. It’s a property for a buyer who is content with a standard layout from the early 70s and views the below-average lot size as a trade-off for lower maintenance and a more accessible price point in a established area.
Section 2: Frequently Asked Questions
1. Is this home priced below its assessed value?
Based on the last recorded sale in 2021 (between $250k-$300k) and the current assessed value of $320k, a list price at or near assessment would suggest it has appreciated. However, the final price is always determined by the market.
2. How does the lot size impact this property?
At 4,783 sqft, the lot is smaller than most on Gilmore Avenue and in River East. This typically means less yard maintenance but may also limit expansion possibilities like large additions or pools compared to neighbors.
3. The data shows the assessed value is "below average" for the neighborhood. Is that a red flag?
Not necessarily. It primarily reflects the home’s more modest size and lot relative to other area homes. It can be an advantage, as it often translates to lower property taxes compared to larger homes on the same street.
4. What can the 2021 sale price tell me?
The prior sale gives a historical benchmark, showing the property's price point roughly three years ago. Market conditions and any updates made since then will influence its current value.
5. How do I find out the exact past sale prices?
The provided data shows approximate price ranges. For fully verified and exact sale figures, you must request a manual lookup from the site via email, as they do not publish MLS sold data directly.