237 Manitoba Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a small, older home on a generous lot in the William Whyte neighbourhood of Winnipeg. With 744 square feet of living space and an assessed value of $102,000, it sits well below average for its street, its neighbourhood, and the city as a whole. The home was built in 1940, which is roughly typical for Manitoba Avenue but actually newer than much of the surrounding area—many nearby homes date from the 1920s. The lot is 3,552 square feet, which is close to average for the street and noticeably larger than the neighbourhood average of 3,277 square feet, though still smaller than typical citywide lots.

The appeal here is not in size or finish, but in relative affordability and land value. The property is priced far below the street average ($216,600) and the neighbourhood average ($149,100), making it one of the most entry-level options available. For a buyer looking for a fixer-upper or a starter home with room to expand, the slightly above-average lot size offers potential—whether for a garage, a garden, or a future addition. It would also suit an investor focused on low-cost entry into Winnipeg’s inner city, where land is often undervalued relative to its development potential.

What’s less obvious is that this home’s age, while a concern for maintenance, may also mean it predates some of the more modern building code restrictions that can complicate renovations. Older homes in this part of the city often have simpler construction and fewer structural surprises than mid-century builds. The trade-off is that systems like wiring, plumbing, and insulation are likely original or outdated. This property is not for someone seeking move-in-ready convenience; it’s for a buyer who can see past the small footprint and low assessed value to the underlying asset.

Frequently Asked Questions

1. How does this property compare to others on Manitoba Avenue?
It ranks in the bottom 13% for living area and bottom 5% for assessed value on the street. The lot size is roughly average for the block, but the house itself is significantly smaller and lower-valued than most neighbours.

2. Is the lot size considered a major advantage?
Yes, in context. While 3,552 square feet is below the citywide average for comparable homes, it’s above average for the William Whyte neighbourhood. For this price point, a lot that size gives more room than many similarly priced inner-city properties.

3. What should a buyer watch out for with a 1940 build?
Expect original or aging electrical systems (possibly knob-and-tube), galvanized or cast-iron plumbing, and minimal insulation. Lead paint and asbestos in older finishes are also possible. A thorough inspection is essential, especially for foundation and roof condition, given the home’s age.

4. Why is the assessed value so much lower than the neighbourhood average?
The low assessed value reflects both the small living area and the home’s condition or age relative to newer or larger homes in the area. It may also indicate that recent sale prices in the immediate vicinity have been lower, pulling the assessed figure down.

5. Who would this property not suit?
It would not suit anyone looking for a spacious, modern home that requires minimal work. It also may not suit buyers who need financing for a property in very poor condition, since lenders can be cautious with low-value, older homes requiring significant repairs.