518 St. Anne’s Road – Property Summary

Key Characteristics & Buyer Profile

This is a compact, older home in the Worthington neighbourhood of Winnipeg, built in 1946. With 772 square feet of living space on a 4,353-square-foot lot, it’s noticeably smaller than most comparable properties on its street, in the area, and across the city. The assessed value of $229,000 is well below local averages—roughly half the street average of $449,600 and about 40% below the citywide median for similar homes.

Where this property’s appeal lies is less in what it is and more in what it could be. The lot size is a modest but usable suburban parcel, and the age suggests a home that may need updating, but also one that likely sits in an established neighbourhood with mature trees and services. For a buyer who values affordability above all else, or who has the skills and budget to renovate, this could represent an entry point into the market that more polished homes in the same area cannot offer.

This property would suit: first-time buyers priced out of more turnkey homes, investors looking for a lower-cost entry in a stable central-Winnipeg neighbourhood, or someone who wants to build equity through sweat equity. It is less suited to anyone seeking move-in-ready convenience, larger living spaces, or a home that will appraise close to its market neighbours without significant work.

Five Frequently Asked Questions

1. Why is the assessed value so much lower than the street average?
The street includes many larger and newer homes, some with significantly higher floor areas and land values. This property’s smaller footprint and older vintage place it in the bottom tier for assessed value on St. Anne’s Road. That said, the gap between $229K and the street average of $449K is unusually wide, suggesting the home may need more work than most in the immediate area.

2. How does the land size compare to typical Winnipeg lots?
At 4,353 square feet, the lot is below the citywide median of 6,570 square feet, but not dramatically so. It’s also considerably smaller than the average for Worthington (7,831 sqft), but the street average of 72,423 sqft is misleading—that figure is likely skewed by a few very large properties. The lot is functional for a single-family home but leaves limited room for additions or extensive landscaping.

3. Is the neighbourhood generally affordable compared to other parts of Winnipeg?
Yes. Worthington sits below the citywide median for assessed values, and this property is below even the neighbourhood average. Homes in this area tend to be older and smaller than the Winnipeg norm, which keeps prices lower. It’s a trade-off: you get less square footage and likely older finishes, but you also avoid the premium of newer suburban developments.

4. What should a buyer expect in terms of major systems and updates for a 1946 home?
Electrical, plumbing, and insulation are the most likely concerns. A home built in 1946 may have original knob-and-tube wiring, galvanized pipes, or insufficient attic insulation. The foundation and roof should be inspected carefully—some homes from this era have fieldstone foundations that can be prone to moisture issues. While the year-built ranking is “around average” for Worthington, the home is older than most on its street, so nearby homes may not be a reliable guide for renovation costs.

5. How does the living area affect resale potential?
A 772-square-foot home is small by current standards, which can limit the pool of future buyers. However, in a city where many older neighbourhoods have modest bungalows, it is not an extreme outlier. The key is whether the layout functions well—separate bedrooms, decent kitchen flow, and adequate storage can make up for a lack of square footage. Resale will be strongest if the home is priced to reflect its size, not its street’s average.