Property Overview

Key Characteristics & Appeal

This is a value-oriented property in Winnipeg's Worthington area, priced well below typical market expectations. The assessed value sits approximately 144k under the citywide average of 390k, ranking in the bottom 1% on its street and in the neighbourhood, and the bottom 3% citywide. The lot size is slightly below average at 4,976 square feet, though this is typical for its immediate street context.

The appeal here is straightforward: entry-level affordability in a market where most comparable homes cost significantly more. It would suit first-time buyers who are willing to accept a smaller living area and a less central location in exchange for a lower purchase price and likely lower property taxes. The property also makes sense for investors looking for a budget-friendly entry into the Winnipeg market who anticipate renovations or longer-term appreciation. One less obvious angle: because it ranks so low in its immediate area, this property may represent one of the few affordable options in a neighbourhood where housing stock is generally more expensive—offering a foothold where it might otherwise be hard to get in.

Five Frequently Asked Questions

1. Why is the assessed value so much lower than the citywide average?

The property falls in the bottom 1% for assessed value on Beliveau Road and in Worthington, and bottom 3% citywide. This likely reflects a combination of older construction, smaller living area, and possibly deferred maintenance or less desirable lot characteristics compared to neighbouring homes. Assessed values in Winnipeg are based on physical condition, size, and comparable sales, so the data suggests this is a lower-tier property in its immediate market.

2. How does the lot size compare to other properties nearby?

At roughly 4,976 square feet, the lot is smaller than average for Worthington (by about 29%) and for Winnipeg overall (by about 43%). It is also below average for its street (by about 44%). This means outdoor space is limited, and any future expansion or landscaping projects would need to work within a compact footprint.

3. What type of buyer would this property be best for?

It’s ideal for a budget-conscious first-time buyer or a small household that doesn’t need a large yard or interior space. It could also work for an investor targeting affordable entry points in a neighbourhood where prices are generally higher. It is less suitable for families needing generous square footage or buyers who prioritize lot size.

4. Could the assessed value change significantly in the near future?

That depends on market conditions and any improvements made to the property. Winnipeg reassessments happen every two years, and values can shift based on neighbourhood trends and comparable sales. If the area becomes more desirable or if the buyer invests in upgrades, the assessed value could rise, but as it stands, it is well below the local median.

5. Is this property a good investment for long-term appreciation?

The low current value means there is room for upside, but appreciation depends on broader market trends in Worthington and Winnipeg. Since this property is already at the bottom end of its area, any neighbourhood-wide rise in values could lift it accordingly. However, the small lot and likely older construction may keep its ceiling lower than newer or larger homes nearby. It’s more of a practical entry point than a guaranteed high-growth play.