Key Characteristics & Buyer Profile

Size and Value: The property has 834 square feet of living area, which is below average for its street, neighborhood, and city. Its assessed value of $220,000 is also well below typical comparables at all three levels. The home sits on a 3,004-square-foot lot—significantly smaller than the neighborhood average of 7,831 square feet and the citywide norm.

Age and Condition Implications: Built in 1924, this is an older home. While age alone isn't a negative, it suggests original or early-era construction details and likely means maintenance history matters more than for a newer house. Buyers should factor in potential updates to systems, insulation, or layout.

Appeal: The appeal lies primarily in affordability and entry-level pricing. The assessed value is roughly $100,000 below the city average for comparable homes, making this a relatively accessible purchase in a market where many properties are priced higher. The modest size also means lower property taxes, utilities, and upkeep costs than a larger home.

Best Suited For: First-time homebuyers looking for a lower-cost entry into homeownership, investors seeking a lower-priced asset in an established Winnipeg neighborhood, or anyone prioritizing budget over square footage and lot size. It may also suit someone who values an older character home and is prepared to invest sweat equity or renovations over time.

Five Possible FAQs

1. Is the low assessed value a red flag?
Not necessarily. The low assessment reflects the home’s smaller size and lot, as well as its age relative to newer developments. It can be a positive if you’re looking for a lower purchase price and smaller tax burden. However, you should verify the condition of major systems (roof, foundation, electrical, plumbing) to ensure the lower price isn’t hiding deferred maintenance.

2. How does the small lot affect daily living?
A 3,004-square-foot lot means less outdoor space for gardening, entertaining, or expansion. There’s limited room for a large shed, garage, or significant additions. If you want a big yard or plan to build an extension, this property won’t suit you. But it also means less yard work and lower water/landscaping costs.

3. What does “below average” mean for resale value?
Being below average in living area and land area doesn’t automatically hurt resale, but it does limit the buyer pool. Homes with small lots and modest square footage appeal most to entry-level buyers or downsizers. Resale value will depend more on the home’s condition, location, and any upgrades than on raw comparisons to averages.

4. Will I have trouble getting a mortgage or insurance for a 1924 home?
Some lenders have stricter requirements for older homes, but a 1924 build is common enough that most standard financing applies, provided the property is in good condition. Insurance can be slightly higher, especially if the wiring, plumbing, or roof are original. A home inspection is strongly recommended for any pre-1940s house.

5. How does this property compare to others on Hindley Avenue specifically?
It ranks near the bottom on that street: below average in living area (129 out of 186), assessed value (172 out of 186), lot size (185 out of 186), and year built (167 out of 186). In short, it’s one of the smaller, older, and lower-valued homes on its block. That can mean it’s a relative bargain, but it also sets expectations for what neighbors have in terms of size and updates.