341 Burrows Avenue – Property Summary

Key Characteristics & Buyer Fit

This is a 1905-built home with 728 square feet of living space on a 3,267-square-foot lot, currently assessed at $123,000. The numbers tell a clear story: the living area ranks in the bottom 10% citywide and bottom 12% on its own street, making it one of the smaller homes in the area. The assessed value is similarly low—about half the street average—which mostly reflects the modest square footage and age. The lot size, however, is close to average for the neighborhood (3,277 sqft neighborhood average versus 3,267 sqft here), so the property isn’t as cramped on the outside as it is inside.

The appeal here is largely about entry-level affordability in a city where the median home value is nearly $300,000 higher. A buyer looking at this property is likely prioritizing a low purchase price over space or modern finishes. The house is old (top 2% oldest citywide), which means maintenance history and mechanicals will matter a lot—this isn’t a turnkey property. It would suit a first-time buyer with some renovation skills, an investor looking for a low-cost rental with potential for value-add, or someone who values a central Winnipeg location over square footage. The William Whyte neighborhood is mixed but increasingly attracting buyers priced out of more expensive central areas. One less obvious angle: the assessed value is relatively closer to the neighborhood average than the street average, which may suggest the street itself has some higher-value outliers pulling the average up—meaning this home might be more typical of the immediate block than the numbers first imply.

Frequently Asked Questions

1. Why is the assessed value so much lower than the street average?
The street average of $227,300 is pulled upward by larger or more updated homes on Burrows Avenue. This property’s $123,000 assessment reflects its smaller living area (728 sqft) and age (1905). At the neighborhood level, it ranks around the middle, meaning it’s not unusually low for the broader area.

2. How does the lot size compare to other properties in the area?
The lot is 3,267 square feet, which is slightly below the street average (3,497 sqft) and nearly identical to the neighborhood average (3,277 sqft). It’s considered “around average” for both the street and neighborhood, though citywide it’s on the smaller side (top 84% of lots).

3. What does the year built mean for insurance or upkeep?
Homes from 1905 often have older foundations, wiring, and plumbing. Many insurers charge higher premiums or require inspections for pre-1940 homes. Buyers should budget for potential updates to electrical, heating, and insulation—especially if the home hasn’t been modernized recently.

4. Is this a good candidate for a renovation or addition?
The land-to-building ratio is favorable—the lot is roughly four times the size of the footprint (assuming a single-story layout). That could allow for a modest addition, though zoning and permit restrictions would apply. The low assessed value also means property taxes are relatively low, which helps during renovation periods.

5. How does this home compare to others currently for sale in William Whyte?
That depends on what’s on the market at the time. In general, this property sits at the lower end of both price and size for the neighborhood. However, because its assessed value is closer to the neighborhood average than to the street average, it may represent better value than the street-level rankings suggest—especially if you’re comparing it to higher-priced listings on the same block.