Property Overview

This is a 1,160-square-foot home built in 1907, situated on a 2,501-square-foot lot in the Riverview area of Winnipeg. The assessed value is $197,000.

The property’s main appeal is its solid but modest size relative to its street. While the living area is 9% smaller than the Riverview average, it is actually larger than most homes on Morley Avenue (ranking in the top 29%). This suggests a comfortable, functional floor plan that avoids the cramped feel of some older houses in the area.

The key trade-off is the significant gap between assessed value and the neighbourhood norm. At $197,000, this home is valued at roughly half of the Riverview average ($389,300) and lands in the bottom 4% of the area. This is largely driven by the age of the structure (1907, bottom 5% in Riverview) and the relatively compact lot (bottom 13% locally). The low valuation is not necessarily a sign of poor condition—it likely reflects the fact that the home does not have the square footage or land mass of the larger, grander houses that define that part of town.

Who it suits: This property is a strong fit for buyers who want to live in Riverview but are priced out of its typical market. It appeals to those who prioritize location over square footage, and who are comfortable with an older home that likely needs updating. It is less suited for someone looking for a “turnkey” character home or expecting a large yard. It could work well for a first-time buyer, a downsizer who values walkability, or an investor looking for a lower-entry point in a desirable neighbourhood.

Five Possible FAQs

1. What does the low assessed value actually mean for me as a buyer?
It means the property taxes will be significantly lower than most homes in Riverview. However, it also means the home likely doesn’t have the same level of modern finishes, recent renovations, or square footage as neighbouring houses. The low value is a financial advantage for monthly costs, but it usually signals that you should budget for repairs or upgrades.

2. Is a 1907 home a risky purchase?
Older homes can have excellent bones—thick plaster walls, hardwood under carpet, and sturdy framing—but they often have outdated electrical, plumbing, and insulation. The risk depends on what’s been updated. Since this home is in the lowest 5% of the area for year built, it is highly likely that some major systems are original or very old. A thorough home inspection is essential, with a focus on the foundation, knob-and-tube wiring, and lead water service lines.

3. How does the lot size affect daily life?
At 2,501 square feet, the lot is average for the street but small for Riverview at large. This likely means a modest front and back yard. For Riverview, many homes sit on larger, deeper lots, so this property will feel more compact outdoors. It is best suited for someone who wants a low-maintenance yard rather than gardening space or room for large pets or kids to run.

4. Is the living area of 1,160 sq ft too small for a family?
It depends on the layout. A 1,160 sq ft home can comfortably accommodate a couple or a small family of three if the floor plan is efficient (no wasted hallways, good closet space). It is smaller than the Riverview average by about 150 square feet, so you will likely trade open-concept space for coziness. Viewing the floor plan in person is key—some 1907 homes have formal, separated rooms that feel larger than their square footage suggests.

5. Why is the living area ranked higher on the street but lower in the area?
Morley Avenue has a mix of homes, and many are on the smaller side (average 1,051 sq ft). So 1,160 sq ft is above average there. But Riverview as a whole has many larger, detached family homes (average 1,306 sq ft), so this property naturally falls below the broader neighbourhood median. It means you are buying one of the larger homes on your street, but one of the smaller ones in the district.