513 Pritchard Avenue – Property Summary

Key Characteristics & Who It Suits

This is a 1,200-square-foot home on a 3,548-square-foot lot, built in 1907. Its assessed value is $146,000. Compared to other properties on Pritchard Avenue, the living area is above average, ranking in the top 23% of the street. The lot size is around average for the street but above average for the William Whyte neighborhood, ranking in the top 22% locally. The assessed value is around average for the street and neighborhood, but below average citywide. The home is older than most nearby—ranked in the bottom 78% on the street.

The appeal here is space. You get more interior square footage than most homes on the same street, and a larger lot than most in the area, without paying a premium. It’s not flashy or upgraded, but it’s solidly average or better within its immediate context. The low assessed value relative to the city suggests the building itself hasn’t been heavily renovated, so there may be room to add value.

This property suits a buyer who prioritizes square footage and lot size over a move-in-ready finish. It’s a good fit for someone comfortable with an older home who wants breathing room inside and out, or for an investor or flipper looking for a functional shell in an area where land and size are above the neighborhood norm.

Frequently Asked Questions

1. How does the assessed value compare to what I’d actually pay?
The assessed value of $146,000 is a baseline used for property tax calculations, not a market price. On this street, the average assessed value is $182,200, meaning many homes are assessed higher. That gap could suggest the home hasn’t been updated recently, or that comparable sales in the area are higher. A realtor or appraiser can give you a realistic market range.

2. Is the age of the home a problem?
Built in 1907, it’s older than 96% of homes citywide. That means it likely has original construction details (thicker walls, hardwood, possibly knob-and-tube wiring, lead pipes, or asbestos). These aren’t automatic problems, but they’re things to budget for—especially insulation, electrical, and foundation work. Get a thorough inspection.

3. Why is the lot ranked higher in the neighborhood than on the street?
The lot is 3,548 square feet. On Pritchard Avenue, the average is slightly larger (3,730 sqft), so it’s just average for the street. But the William Whyte neighborhood average is smaller (3,277 sqft), so this lot stands out more locally. It’s a case where the immediate street skews bigger, while the broader area has smaller lots.

4. Is this a good investment property?
It depends on your strategy. The living area and lot are above average for the area, and the low assessed value means lower property taxes—both of which support rental or flip potential. But the age and citywide rank (bottom 5% for value) suggest it may need significant work. The upside is in the land and square footage, not the current condition.

5. What’s the neighborhood, William Whyte, actually like?
William Whyte is an older, centrally located Winnipeg neighborhood. It’s diverse, with a mix of single-family homes and rentals, and tends to be more affordable than the city average. Proximity to downtown and major routes is good. It’s not a high-demand area citywide, but for buyers focused on value per square foot, it offers some of the best ratios in town.