Key Characteristics & Buyer Profile

This is a 1,076-square-foot home built in 1974, sitting on a 5,501-square-foot lot in Winnipeg’s River East area. The property is smaller than average compared to others on Gilmore Avenue, in River East, and citywide, but is valued at roughly $323,000—closer to the median for the city than for the surrounding neighbourhood. The lot is slightly above average size for Winnipeg overall, but smaller than typical for River East.

The appeal here is in the balance. You’re getting a modest, older home on a practical lot in an established part of the city. The assessed value sits well below the neighbourhood average, which can be a sign of an accessible entry point into River East—a market that often demands more. The house is not a standout in size or value relative to its peers, so the draw is likely the land and the location rather than the structure itself.

This property suits a buyer who values stability and location over flash. First-time buyers or those looking to downsize from a larger home without leaving a familiar area could find it fitting. It may also appeal to someone willing to invest in updates on a solid, older house, since the value is underwhelming compared to the neighbourhood standard—leaving room for improvement over time. It’s less suited for someone seeking a large family home or a move-in-ready property with modern finishes.

Frequently Asked Questions

1. How does this home’s size compare to others in River East?
It’s on the smaller side. The living area is in the bottom 28% for the area, where the average home is about 1,399 square feet. The lot is also in the bottom 22% for River East. If having more space—indoors or outdoors—is a priority, you’ll likely find larger options nearby for a higher price.

2. What does the assessed value suggest about potential resale?
The $323,000 assessment is well below the River East average of around $401,000. This can mean a lower purchase price relative to the neighbourhood, but also indicates the current home may not match the condition or upgrades of its neighbours. Over time, improvements could bring the value closer to area standards, but resale will depend on what you add.

3. Is the 1974 construction a concern?
Not necessarily, but it’s worth a careful inspection. Homes from this era often have solid foundations and mature landscaping, but may need updated wiring, plumbing, or insulation. The year built ranks in the top 42% citywide, meaning it’s newer than many older Winnipeg homes, but still 50 years old. Expect some maintenance.

4. How does the lot size affect usability?
At 5,501 square feet, the lot is average for the street but small for River East. It’s still enough for a decent backyard and perhaps a garden or small shed, but not for extensive landscaping or expansion. The ranking suggests you’ll have less outdoor space than most neighbours in the area.

5. Why is the assessed value lower than other homes on the same street?
The property’s value ranks in the bottom 22% for Gilmore Avenue, where the average is around $347,000. This likely reflects the smaller living area and possibly less recent renovation or deferred maintenance compared to others. It’s not necessarily a red flag, but it does mean you’re buying into the street at a lower price point than many neighbours.