Property Overview & Key Characteristics

This home at 525 Rathgar Avenue in Winnipeg's Lord Roberts neighbourhood presents a classic, early-20th century character property with a balanced profile. Built in 1909, its primary appeal lies in its established, tree-lined street setting and its strong standing relative to its immediate area. While its 1,000 sqft living space is modest by broader city standards, it is squarely average for Rathgar Avenue and Lord Roberts, suggesting a comfortable fit for the locale. The lot size of just under 3,000 sqft is also typical for the street, offering a manageable outdoor space.

Its assessed value ranks notably high on its own street (top 18%) and reasonably well in the broader neighbourhood, indicating it is perceived as a well-maintained or desirable property within its peer group. Recent sale history shows significant value growth between 2019 and 2022. This home would suit a buyer looking for character in a mature, central neighbourhood, who values a sense of community and consistency over a large lot or modern square footage. It’s a practical choice for a first-time homebuyer, downsizer, or investor attracted to a stable, in-demand area where the property holds its own against direct neighbours.

Frequently Asked Questions

1. What does the "above average" assessed value on the street actually mean?
It means that, compared to the 161 properties on Rathgar Avenue, this home’s assessed value is in the top 18%. This suggests the municipal assessment views it more favourably than most on its block, possibly due to condition, improvements, or specific attributes.

2. The house was built in 1909. Should I be concerned?
This is one of the older homes on the street (top 84%, meaning 84% of homes on Rathgar are newer). While it offers classic charm, it necessitates a thorough inspection focusing on foundational integrity, wiring, plumbing, and insulation updates that may have been made over the years.

3. How does the lot size compare?
At 2,911 sqft, the lot is very typical for Rathgar Avenue (top 40%) and Lord Roberts. However, it is significantly smaller than the Winnipeg city-wide average of 6,570 sqft. This is standard for central, established neighbourhoods and means lower maintenance but less private outdoor space.

4. The home sold between $300k-$350k in 2022. What does the price history indicate?
It shows a considerable increase from its $200k-$250k sale price in 2019. This points to strong market momentum in the area during that period. Understanding the exact sale price (available by request) and comparing it to the current assessed value would be a key step in evaluating today’s asking price.

5. Who are the most relevant comparable properties?
The most meaningful comparisons are on the same street (e.g., 523, 527 Rathgar Ave) and similar homes in Lord Roberts, like 558 Rathgar Ave (1916) or 485 Walker Ave (1914). Newer builds on Beresford Avenue (2019) have higher assessed values but are fundamentally different property types, useful for understanding neighbourhood price ranges rather than direct comparisons.