655 Selkirk Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a large older home in the William Whyte neighbourhood of Winnipeg. At 2,284 square feet of living space, it ranks in the top 2% on its street and in the neighbourhood, and the top 5% citywide—meaning it’s significantly bigger than most comparable properties. The land is slightly smaller than average for the street but above average for the neighbourhood, at 3,487 sq ft. The house was built in 1907, making it one of the older homes on the street and in the city.

The assessed value is $133,000, which is below the street and city averages but roughly in line with the neighbourhood median. This suggests the property is priced more for its location and age than for finishings or recent updates. The combination of a large interior, modest land, and low assessed value relative to size points to a home that likely needs work but offers substantial space at a relatively low entry point.

The appeal is for buyers who want square footage without paying a premium—investors, contractors, or hands-on homeowners comfortable with an older house that may require renovations. It’s less suited for someone looking for a turnkey property or a large yard. The home’s age and below-average assessment also hint at possible deferred maintenance, which could be an opportunity or a risk depending on the buyer’s experience and budget.

Frequently Asked Questions

1. Why is the assessed value so low compared to the home’s size?
Assessed value reflects the property’s market value as estimated by the city, not replacement cost. A large, older home in a neighbourhood with lower median values will typically assess lower than a smaller, newer home in a higher-demand area. It may also indicate the home has not been recently updated or that comparable sales in the area are modest.

2. How does the year built affect things like insurance or upkeep?
Homes from 1907 can have older electrical, plumbing, and foundation systems. Insurance rates may be slightly higher, and some lenders have stricter requirements for older properties. Buyers should budget for an inspection that specifically looks at knob-and-tube wiring, lead pipes, and foundation condition.

3. Is the land size a limitation for future development?
At 3,487 sq ft, the lot is smaller than the street average but larger than most in the neighbourhood. It’s likely a standard urban lot, not oversized. Extensions or major additions may be limited by zoning and setback rules, but the lot is typical for the area and shouldn’t be a barrier to normal use.

4. How does this property compare to others currently for sale nearby?
Most comparable homes in William Whyte are smaller in living area (around 1,158 sq ft neighbourhood average) and more recent. This home offers roughly double the interior space at a similar or lower assessed value. That gap suggests it may be one of the more affordable large homes in the area, but condition and renovation needs will determine actual market value.

5. What kind of buyer typically goes for a property like this?
Typical buyers include renovators looking to add value through upgrades, families who need space and are willing to invest sweat equity, or investors seeking a rental property with below-market acquisition cost. It’s less common for first-time buyers looking for move-in ready homes, though someone with renovation experience could make it work.