292 Charles Street – Property Summary

Key Characteristics & Appeal

This is a 1,011 sqft single-family home built in 1907, located on Charles Street in Winnipeg’s William Whyte neighbourhood. The property sits on a 3,082 sqft lot. Its most notable feature is its assessed value: $78,000, which ranks last on its street and near the bottom citywide. That’s roughly one-third of the street average and one-fifth of the city average for comparable homes. The living area is also below the street and city averages, though it falls closer to the neighbourhood median.

The appeal here is straightforward: it’s likely one of the most affordable entry points into the area. For a buyer who is comfortable with an older home (the building predates most of its neighbours) and a smaller footprint, the low valuation could mean a lower purchase price and property taxes. The land area is modest relative to the street, but it’s not far off the neighbourhood average, so the yard is workable for the area.

This property would suit a first-time buyer with limited budget, an investor looking for a low-cost renovation project, or someone who prioritizes affordability over square footage and modern finishes. It’s not for someone seeking a move-in-ready home with generous proportions or high resale value in the near term.

Five Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the same street?
The $78,000 assessment likely reflects a combination of smaller living area (1,011 sqft vs. the street average of 1,576 sqft), age (1907, compared to the street average of 1922), and possibly the condition or lack of recent updates. Assessed values consider size, age, location, and market data, so this property appears to be an outlier in several categories.

2. Is the neighbourhood generally affordable?
Yes. The neighbourhood average assessed value for comparable homes is $149,100, which is well below the citywide average of $390,100. Even within William Whyte, this property is at the lower end, ranking in the bottom 6% locally and bottom 1% citywide. So it’s a low-cost pocket within a relatively low-cost area.

3. What does “ranked” mean in the data shown?
The rankings compare this property to other similar homes within the same street, neighbourhood, and city. A higher rank number (e.g., 29 out of 29) means it falls at the bottom for that measure. A lower rank number (e.g., 17 out of 29) means it’s closer to the middle. Larger lots and newer homes get better ranks; smaller lots and lower values get worse ranks.

4. Is the 1907 construction a concern?
It depends on the buyer’s tolerance. Older homes can have charm, solid materials, and established landscaping, but they also often require upgrades to plumbing, electrical, insulation, and foundation work. The year built is near the average for the neighbourhood (1927) and the street (1922), so it’s not unusually old for the area, but it is older than the vast majority of homes citywide.

5. Is this a good candidate for a renovation?
Possibly, but the math needs careful checking. The low purchase price creates room for investment, but the small living area (1,011 sqft) and modest lot (3,082 sqft) limit how much value you can add through expansion. Renovations that improve energy efficiency, curb appeal, or interior finishes could lift the value, but the ceiling may be lower than in a larger home on a bigger lot. Buyers should factor in the neighbourhood’s overall price trends.