Property Summary: 990 sqft Home on London Street, Valley Gardens

Key Characteristics & Buyer Profile

This is a 1973-built home with roughly 990 square feet of living space on a 5,002 sqft lot. The living area is slightly below average for its street, neighbourhood, and city—ranking in the bottom 25–40% depending on the comparison. That said, the assessed value of $343,000 sits above the local average for both London Street and Valley Gardens, suggesting the property carries some premium relative to its size.

Where this home’s appeal likely lies: the lot-to-house ratio. With a 5,002 sqft lot and a modest 990 sqft footprint, there is meaningful outdoor space for a property of this age and size. In an era where many buyers are prioritizing yard space for gardening, storage, or future expansion, this could be a quieter advantage. The 1973 build year also puts it in a sweet spot for construction quality—well past the post-war boom but before the 1990s era of more standardized tract housing.

This property would suit buyers who value land and outdoor square footage over interior square footage. It may appeal to first-time buyers looking for a manageable starter home with room to grow, or to downsizers who want a smaller house but not a condo or townhouse. It could also work for someone with renovation intentions, as the lot size offers flexibility for additions or ADU potential in many Winnipeg zoning contexts.

Five Possible FAQs

1. How does this property compare to others on London Street in terms of value?
It ranks in the top 28% on London Street for assessed value and top 40% within Valley Gardens, despite having below-average living area. This suggests the value is propped up by the land size or location, not just the house itself.

2. Is the living area considered small for Winnipeg?
Yes. At 990 sqft, it’s below the citywide average of roughly 1,342 sqft and falls in the bottom 25% citywide. But it’s worth remembering that older neighbourhoods like Valley Gardens tend to have smaller footprints, so it’s more typical for the area than the city as a whole.

3. What year was it built, and is that considered old for Winnipeg?
It was built in 1973. That’s around average for London Street and slightly older than the Valley Gardens median. In Winnipeg, homes from the 1970s are common and generally considered to have solid framing and simpler systems compared to newer builds, which can be a plus for buyers comfortable with minor updates.

4. How big is the lot, and is it useable?
The lot is 5,002 sqft, which is slightly below average for the street and neighbourhood but still generous relative to the house size. That means you have a yard roughly five times the footprint of the house, giving you room for a garden, shed, playset, or future addition—without feeling oversized for maintenance.

5. What are the property taxes or ongoing costs?
The assessed value is $343,000. Based on Winnipeg’s current mill rate, the annual property taxes would be roughly $3,600–$3,900, depending on any exemptions or phase-ins. Actual figures should be verified with the city, as assessments can lag behind market value.