Property Overview & Key Characteristics
546 Glenway Avenue is a well-established, one-storey home in Winnipeg's River East neighbourhood, built in 1981. Its primary appeal lies in its generous 6,101 sqft lot, which is significantly larger than many in the area, offering ample outdoor space and potential. The home itself is a manageable 1,000 sqft with a renovated basement, suggesting updated living space below grade. A detached garage provides additional storage or workshop space.
This property suits first-time buyers or downsizers looking for a solid, single-level home with a low-maintenance footprint and a large, private yard—a combination that can be hard to find. It also appeals to value-conscious buyers or those with a vision for gradual updates, as the large lot represents a long-term asset that often outlasts the structures on it. The recent sale in 2022 provides a clear, contemporary market reference point for value.
Frequently Asked Questions
1. What does the "renovated basement" typically include?
While specifics should be verified by a viewing and inspection, a renovated basement in a home of this era often means finished living space, possibly with updated flooring, drywall, and lighting, creating a functional rec room, office, or additional bedroom area.
2. How does the large lot size benefit me?
Beyond simple yard space, a lot of this size (over 6,000 sqft) in an established neighbourhood is a premium feature. It offers privacy, room for gardening, play areas, or future additions like a shed or deck, and generally holds its value independently of the house.
3. The home's living area is noted as smaller than many in Winnipeg. Is it cramped?
At 1,000 sqft for the main floor, the layout will be compact. This emphasizes efficient use of space and lower utility costs. The renovated basement effectively doubles the usable living area, making the overall footprint very practical.
4. The assessed value seems low. Does that mean the asking price will be low?
Municipal assessed value for taxation purposes often lags behind the current market. The 2022 sale price of $376,000 is a more relevant benchmark for today's market value, reflecting what a buyer recently paid under then-current conditions.
5. What is the neighbourhood like?
River East is a mature, family-oriented community with a mix of long-time residents and new buyers. The property ranks in the middle of the pack for the street and neighbourhood on metrics like lot size and year built, indicating it fits right into a stable, established area with consistent property values.