586 Aberdeen Avenue – Property Summary

Key Characteristics & Buyer Profile

This property is a 768 sqft home built in 1951, sitting on a 3,267 sqft lot. Its main strength is value: the assessed value is $181,000, which is above average for the street and well above the neighborhood median of $149,100. In a city where the average comparable home is assessed at $390,100, this property offers a significantly lower entry point.

The trade-off is size. The living area is below average at every level—street, neighborhood, and citywide. It’s a compact home, ranking in the bottom 22% on its own street for square footage. The land itself is a mixed story: slightly above average for the street but average for the neighborhood, and well below citywide norms for lot size (which tend to be larger, especially in newer areas).

Where the appeal lies: This isn’t a home that impresses with space. Its appeal is more subtle: a solidly built older home (1951, older than most in the city) in a neighborhood where values are trending above the local average. It may offer better bang for the buck in terms of assessed value relative to living area—meaning the land or location is carrying more weight than the building itself.

Who it would suit: Buyers who are land- or location-focused rather than space-focused. Someone comfortable with a smaller footprint who wants to get into a neighborhood where prices are rising relative to the street. It could also suit an investor or first-time buyer looking for a property with below-median entry cost but above-median assessed value—suggesting potential for future appreciation if the neighborhood continues to strengthen. Not ideal for anyone needing generous living space or a large lot.

Five Possible FAQs

1. Why is the assessed value above the neighborhood average when the living area is below average?
Assessed value isn’t just about square footage—it factors in location, lot size, condition, and comparable sales. In this case, the land and the street’s relative desirability appear to be contributing more to the value than the building’s size. The home is also older (1951), which can sometimes signal better construction or a more established area.

2. How does a “Top 37%” rank on the street translate to a “Top 25%” rank in the neighborhood?
The street ranking compares only to other homes on Aberdeen Avenue. The neighborhood ranking (William Whyte) includes a wider area. In this case, the property does even better against the broader neighborhood—suggesting that Aberdeen Avenue itself has higher average values than some surrounding streets.

3. Is a 768 sqft home considered small for Winnipeg?
Yes. The citywide average for comparable homes is 1,342 sqft, so this is about 43% smaller. However, older homes in central Winnipeg neighborhoods are often smaller than newer suburban builds, so it’s not unusual for the area.

4. What does the year built (1951) tell me about the property?
It’s older than most homes in Winnipeg (median year built is 1966) but newer than the average on this street (1930) and in the neighborhood (1927). That means it’s likely a mid-century build, which can offer better electrical, plumbing, and foundation standards than pre-war homes, but may still need updates depending on how well it’s been maintained.

5. The land area ranking is strong on the street but weak citywide. Why?
On Aberdeen Avenue, lots tend to be smaller—around 3,265 sqft on average. This lot is almost exactly that, so it ranks well locally. Citywide, lot sizes are much larger on average (6,570 sqft), so it falls toward the bottom. This is typical for older, inner-city neighborhoods where lots were subdivided more tightly than in postwar suburban developments.