622 Talbot Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a compact, older home on a notably small lot. The living area is 1,100 square feet, which is above average for both the street and the neighbourhood (top 28% and top 17%, respectively), and roughly average citywide. The property was built in 1911, making it older than most homes on the street, in the area, and across Winnipeg. The land area is 2,445 square feet, which places it in the bottom 2–5% compared to nearby properties and well below the city average of 6,570 square feet. The assessed value is $174,000, well below the street average of $239,300 and far below the citywide average of $390,100.

Where the appeal lies: The main draw is affordability. The assessed value is low relative to comparable homes at every level, and the living area is decent for its price point. The small lot may also appeal to buyers who want lower maintenance and don't need a large yard. The older construction could offer character or a renovation opportunity, depending on its condition.

Who it suits: First-time buyers looking for an entry point into the market, downsizers who want less outdoor upkeep, or investors seeking a lower-cost property in an established neighbourhood. It would not suit buyers who need a large lot, a newer home, or a space that already reflects current finishes and systems.

Frequently Asked Questions

1. How does this home's value compare to others nearby?
The assessed value is well below average on the street, in the neighbourhood, and citywide. For the street, it ranks in the bottom 11%; in the area, the bottom 25%; and in the city, the bottom 5%. That means it's one of the more affordable options in a relatively modest neighbourhood, and very affordable compared to the city as a whole.

2. Is the small lot a problem for resale?
It depends on the buyer. The lot is in the bottom 2% on the street and bottom 5% in the area. That will limit appeal to buyers who want space for a garage, garden, or expansion. But for those who prioritize low maintenance and a lower purchase price, it can be a feature. It's a trade-off, not a flaw.

3. How much work might an older home like this need?
Built in 1911, it's older than 76% of homes on the street and 93% citywide. Age alone doesn't dictate condition, but older homes often have outdated electrical, plumbing, insulation, and windows. A thorough inspection is essential. That said, many century homes have been well maintained or updated over time.

4. What are the ongoing costs or risks with a small lot?
A smaller lot means less snow clearing, lawn care, and landscaping expense. However, the home's age may mean higher heating costs if not well insulated, and older systems can require more frequent repairs. The low assessed value also keeps property taxes relatively low compared to larger or newer homes.

5. Does the location offer good value for what you're getting?
The neighbourhood (Talbot-Grey) ranks in the top 17% for living area but the bottom 25% for assessed value. That suggests you're getting more interior space for your money relative to others in the area. Citywide, the living area is average while the value is very low, so the property offers a strong space-to-price ratio, though the trade-off is an older home on a small lot.