Property Summary: 376 Beliveau Road, Winnipeg

Key Characteristics & Buyer Profile

This is a 720 sq. ft. home built in 1975 on a 3,037 sq. ft. lot in the Worthington neighbourhood. Its strongest feature is its age—it’s around average for the street, the neighbourhood, and the city, suggesting solid construction from a well-established period. The appeal lies in its affordability relative to surrounding properties. The assessed value of $243,000 is noticeably lower than the street average of $297,700 and well below the citywide average for comparable homes. However, this is balanced by a smaller living area and lot size, which rank below most neighbours.

This property suits a buyer who is prioritizing a lower entry price and manageable square footage over space. It’s a practical fit for someone looking to get into the market without the premium often attached to larger lots or recently renovated homes. The below-average rankings for living area and lot size may actually be attractive to buyers who want less upkeep or are seeking a starter home in a neighbourhood where most properties are larger—and more expensive. It’s less suited to someone prioritizing a big yard or expecting a spacious interior.

Five Possible FAQs

1. Why is the assessed value so much lower than the city average, and does that mean taxes will be low?
   The assessed value reflects the home’s size and lot in comparison to newer or larger properties across Winnipeg. Because it’s a smaller, older home on a compact lot, the assessment is lower, which typically does result in lower property taxes than the city median. However, taxes are based on mill rates, so you should confirm the exact figure with a realtor or the city.

2. The lot is only 3,037 sq. ft.—what does that mean practically?
   That’s a small lot for this neighbourhood (ranked in the bottom 15% on the street). It likely means a minimal backyard and limited side space. For a buyer who doesn’t want a large lawn to maintain or prefers a more urban feel, this is a benefit. For someone wanting gardens, a shed, or room for kids to play, it will feel tight.

3. How does a 1975 build hold up compared to newer homes?
   Homes from the mid-1970s are generally solidly built with standard materials for the era. They’re not as energy-efficient as a modern build, but they’re also less likely to have surprise structural issues compared to much older stock. You’ll want to check the condition of the roof, windows, furnace, and foundation—these are the typical areas where a 50-year-old home needs attention.

4. The rankings show “below average” for living area and lot size—should that be a concern?
   It’s not necessarily a concern, but it’s important context. It means this home is smaller and on less land than most others nearby. That often translates to a lower price, but also to less privacy from neighbours and less flexibility for additions. If your priority is space, you’d likely find more value elsewhere. If your priority is a lower price point in a decent neighbourhood, it’s a trade-off that works.

5. Is this a good investment property, or better as a primary residence?
   Its smaller footprint and low assessment make it a candidate for either, but with some caveats. As a rental, the lower purchase price can mean better cash flow potential, but the small lot and older construction may limit rent growth. As a primary residence, it offers an affordable way into Worthington without the costs associated with a larger home. Potential for equity growth will depend largely on neighbourhood trends and any renovations you do.