Property score
58.6
Fair
Overall 58.6 · Smaller and older than most nearby homes
1,010 sqft (bottom 22%) · Built in 1955
Located in a above-average income area with median household income of ~74k
Transit 92.0 · 3-min walk to transit with 6 nearby routes · Within 500m: 7 dining spots, 1 healthcare facility, 1 shop, and 2 parks nearby
Living Area
Below average
30% smaller than neighborhood avg.
Year Built
Below average
0 yrs newer than neighborhood avg.
Mother tongue
English · 80%Chinese · 2%
Past 10 years Birchwood sales snapshot (~80% of all data)
81
390.5k
$299/sqft
1955
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58.6 is composed by the two sections below.
Property Score
Community Score
Birchwood
How to read: Share of sales in each ~$50k price band for “birchwood” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110341
$74K
Median household income
$88K
Average household income
8%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.7
P90 / P10 ratio
33%
Single-person households
18%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
178 Lake Street — 12 amenities found within 500 m, across 5 categories, including 7 dining (nearest 254 m), 1 healthcare (nearest 404 m), 1 shopping (nearest 258 m).
Birchwood · WPS public data · 2026
Annual incidents
3
2026
vs. city avg
-90%
relative to avg
Year-over-year
▼ -97%
vs. prior year
Primary type
Property
67%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 1% | Bottom 12% | Bottom 31% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 178 Lake Street, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Birchwood offers a practical and comfortable living proposition. Its primary appeal lies in a combination of generous outdoor space and a recently renovated basement, providing immediate livability and room to grow. With a land area of nearly 7,500 sqft, the lot is significantly larger than many in Winnipeg, ranking in the top 14% city-wide. This is a standout feature for gardeners, those who value privacy, or anyone looking for ample yard space.
The home itself, built in 1955, is older but has been updated where it counts, specifically with a finished basement. It suits first-time buyers seeking a move-in-ready property with a low assessed value, or practical investors looking for a solid rental property with a desirable lot size. Its one-storey layout also makes it a potential candidate for those planning for long-term, accessible living. A less obvious perspective is its position on the street: while the home’s living area is above average for the immediate block, its recent sale history suggests it may represent a value opportunity compared to neighbouring homes, appealing to buyers focused on equity potential and land value.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated, but specifics on finish quality, room layouts, and whether it includes a legal suite or additional bedrooms should be verified through a viewing and disclosure documents.
2. How does the low assessed value impact property taxes?
A lower assessed value generally translates to lower municipal property taxes, which is a positive for ongoing holding costs. However, buyers should be aware that the property will likely be reassessed after a sale at a new market value.
3. The lot is large, but how is it shaped and oriented?
The total square footage is provided, but the lot's dimensions, sun exposure, and topography are key for understanding its usability for decks, gardens, or future additions. This requires a site visit or survey review.
4. Given the age of the home, what major systems have been updated?
While the basement is noted as renovated, inquiries should be made about the roof, wiring, plumbing, heating system, and windows to understand the home’s overall condition and potential future costs.
5. Why was the last sale price in 2016 significantly lower than the current assessed value?
The 2016 sale price of $27.6k was well below the current $36.5k assessment, reflecting market appreciation and possibly the basement renovation. This history indicates substantial equity growth for the past owner and provides a benchmark for market change.
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