1507 Elgin Avenue W – Property Summary

Key Characteristics & Buyer Profile

This is a 1910-built home with 1,037 square feet of living space on a 2,597-square-foot lot in Winnipeg’s Weston neighbourhood. Its standout feature is assessed value. At $240,000, it ranks in the top 19% on the street and top 13% in the neighbourhood—well above local averages of roughly $190,000 and $185,000 respectively. That suggests either recent updates, desirable interior features, or location-specific demand that the market has priced in.

The trade-off is space. Living area is around average for the street but below the citywide average of 1,342 square feet. The lot is notably small, ranking in the bottom 17% on the street and bottom 6% citywide. Buyers should go in expecting compact indoor and outdoor living. The year built (1910) is older than most nearby homes and far older than the city median of 1966, so age-related maintenance—foundation, wiring, plumbing, insulation—should be expected.

Who it suits: First-time buyers or small households who prioritize location and value over square footage. It may also appeal to buyers comfortable with an older home who see the higher assessed value as a sign of quality or improvements already made. Those needing a large yard or extra rooms for a growing family will likely want to look elsewhere.

Five Possible FAQs

1. Why is the assessed value so much higher than the neighbourhood average?
Assessed value reflects the city’s estimate of market value based on recent sales, property condition, and location. Since this home’s value ranks well above both street and neighbourhood averages, it likely has finishes, updates, or a lot position that justify a premium—but the city’s data doesn’t specify what those are. A home inspection and comparative market analysis would clarify.

2. Is the 1910 construction a red flag?
Not necessarily, but it’s a factor. Homes from that era often have solid framing and good bones, but systems (electrical, heating, plumbing) may be original or near end-of-life. The citywide ranking puts this home in the oldest 6% of Winnipeg properties, so age-related issues aren’t unusual. A pre-purchase inspection by someone experienced with older homes is strongly recommended.

3. Can I add more living space or expand the house?
The lot is small—2,597 square feet—and ranks in the bottom 6% citywide for land area. Adding a significant addition would likely be constrained by zoning setbacks and lot coverage limits. Check with the city’s planning department before assuming expansion is possible. For many buyers, the current footprint is likely what you’ll work with.

4. How does this home compare to others in Weston?
It’s above average in assessed value but around average in living area and lot size for the neighbourhood. The property ranks top 13% in value among 1,736 comparable homes in Weston, but the lot is in the 60th percentile and the house size is in the 31st percentile. So you’re paying for quality or condition rather than space.

5. Is this a good investment property?
Potentially. The assessed value suggests strong local demand, and the price point ($240,000) is well below the citywide average ($390,100), which could appeal to budget-focused renters. However, the small lot and older construction may limit appreciation compared to properties with more land or newer builds. Run a rental cash-flow analysis with realistic maintenance costs before committing.