Property Summary

Key Characteristics & Buyer Profile

This is a 1,362-square-foot home built in 1907 on a 3,010-square-foot lot at 723 Selkirk Avenue in the William Whyte neighbourhood of Winnipeg. The property’s main appeal is its living space: at 1,362 sqft, it is notably larger than the average home on its own street (1,093 sqft) and within the surrounding area (1,158 sqft), placing it in the top 16% for size on Selkirk Avenue. This extra square footage—roughly 200 to 270 sqft above the local norm—translates into rooms that are likely more spacious than typical for the price point.

The property’s assessed value is $98,000, which sits well below average for the street ($194,000), the neighbourhood ($149,000), and the city ($390,000). This low assessment is consistent with an older home that may need updating, but it also suggests a lower tax burden relative to comparable-sized homes elsewhere in Winnipeg. The lot is somewhat smaller than the neighbourhood average, so outdoor space is modest.

This property would suit a buyer who values interior square footage over a modern finish or a large yard—someone willing to take on an older home (built 1907) in a more affordable part of the city, likely with an eye for renovation or sweat equity. It may also appeal to an investor looking for a below-market entry point in a neighbourhood where the average home is also older (built ~1927), but this property is near the middle of the pack for its area in terms of age. It is less suited to someone seeking a move-in-ready home or a large lot, or who is wary of the maintenance that comes with a property over a century old.

Frequently Asked Questions

1. Is this property priced below market because it needs major repairs?
   The $98,000 assessed value is significantly lower than area averages, which often indicates an older home that has not been extensively updated. The data alone doesn’t specify condition, so a thorough inspection is essential to understand what work may be needed—mechanicals, roof, foundation, windows. The value could also reflect the smaller lot size or location within the street’s price range.

2. How do property taxes compare to other homes of this size?
   Since taxes are based on assessed value, the $98,000 assessment means taxes should be lower than for most homes in Winnipeg with a similar 1,362 sqft footprint. For context, the citywide median for comparable-sized homes is $390,000. Buyers should verify the exact mill rate and any applicable tax increases from recent assessment changes.

3. What is the neighbourhood like for resale or future value?
   William Whyte is an older, central neighbourhood with a mix of early-20th-century houses. The data shows the area’s average assessed value ($149,000) and typical home age (~1927) are both lower than city norms, which can mean slower appreciation but also lower entry costs. Resale will depend on how the property compares to others nearby—this home is larger than most in the area, which could be a selling point if updated.

4. Why is the lot smaller than average, and does that matter?
   At 3,010 sqft, the lot is about 720 sqft smaller than the street average and roughly 260 sqft below the neighbourhood average. This limits outdoor expansion, gardening, or parking if not already paved. For buyers who don’t prioritize a large yard, this is less of an issue, but it can affect the property’s appeal to families or those wanting a garage or workshop.

5. How does a 1907 home compare to others of its age in Winnipeg?
   The home is older than the citywide median (1966) and the street average (1938), but it is close to the neighbourhood average (1927). Many homes in this part of Winnipeg were built between 1900 and 1930, so buyers should expect construction methods typical of that era—lath and plaster walls, knob-and-tube wiring possibly, and a foundation that may need attention. These are common in the area, not unusual, but they affect insurance and renovation costs.