Property Summary: 497 Besant Street, Winnipeg

Key Characteristics & Appeal

This home presents a distinct profile centred on its generous lot and established neighbourhood character. Built in 1914, it is notably older than most area homes, which suggests potential for classic architectural details but also means buyers should be prepared for the maintenance considerations of a century-old structure. Its primary appeal lies in its above-average land area for the Munroe East area (5,288 sqft, ranking in the top 30%), offering valuable outdoor space and redevelopment potential that is less common locally.

The 988 sqft living area is typical for the immediate street and neighbourhood, indicating a comfortable, modest-sized home. A key financial highlight is its assessed value ($32,200), which ranks above average for both the street and the broader area, suggesting the property is viewed favorably by assessors relative to its peers. The home last sold between $300k-$350k in 2021.

This property would best suit a pragmatic buyer who values a larger lot over a newer build. It’s ideal for someone interested in gardening, expansion, or future land use, and who is comfortable with the upkeep of an older home. It also appeals to an investor or homeowner who appreciates a property that stands out positively in assessed value within its immediate context.

Frequently Asked Questions

1. What does it mean that the home is "below average" for year built?
This simply indicates the home is older than most in its comparison groups. Built in 1914, it is the oldest on its street and older than roughly 96% of homes in Munroe East. This doesn't reflect condition, but highlights its historic character and the importance of a thorough inspection.

2. The assessed value seems low compared to the city-wide average. Why?
The city-wide average assessed value shown (~$390k) includes all property types and sizes across Winnipeg. This home’s assessment is more meaningfully compared to its local peers, where it ranks in the top 22% for Munroe East, indicating it is considered more valuable than most similar properties in its direct area.

3. How can the lot be "above average" for the area but "around average" city-wide?
Lot sizes vary greatly by neighbourhood. A 5,288 sqft lot is larger than 70% of lots in Munroe East, making it a standout locally. City-wide, however, this size is closer to the middle, as some areas have significantly larger rural or suburban lots.

4. What are the implications of the 2021 sold price range?
The sold price range of CA$300k–350k provides a market benchmark from four years ago. For an accurate current market valuation, this should be compared with recent sales of similar properties, as market conditions have likely changed since 2021.

5. Why is the living area considered "below average" city-wide?
The average living area for a Winnipeg home is about 1,342 sqft. At 988 sqft, this home is more compact than that broad city average, which includes many newer suburban houses. Within its own neighbourhood and street, however, its size is much more typical and competitive.