Property Overview: 491 Rathgar Avenue, Winnipeg
Key Characteristics & Appeal
This home at 491 Rathgar Avenue is a classic, compact character property in the established Lord Roberts neighbourhood. Built in 1919, it offers 704 square feet of living space on a 2,206 square foot lot. The data suggests it’s a home of contrasts: its living area is modest compared to most in the city, yet its assessed value is relatively strong for its size, indicating value in its location and lot. It last sold in the $250k-$300k range in 2022.
Its primary appeal lies in its position as an attainable entry point into a mature, central neighbourhood. It suits a first-time buyer, an investor, or someone looking to downsize without leaving a convenient area. The lot size is a notable asset for the street, offering potential for outdoor space or future expansion that many similarly priced newer homes lack. This isn’t a sprawling modern property; its charm is in its simplicity and potential. It’s for a buyer who values location and land over square footage, who sees the opportunity in a home that ranks average for value on its street but below average for size city-wide.
Frequently Asked Questions
1. Is this a small house?
Yes, at 704 sqft, the living area is below the average for Winnipeg. It’s a compact, character home typical of its 1919 build era, best suited for individuals, couples, or small families.
2. Why is the assessed value relatively higher than its size would suggest?
The assessment reflects more than just square footage. It accounts for the desirable Lord Roberts location, the usable 2,206 sqft lot, and the overall property value within its immediate area, where it ranks around average.
3. What is the potential for expansion or renovation?
The lot size is a key feature, as it is larger than many on Rathgar Avenue. This provides a tangible opportunity to add a rear addition, expand living space, or enhance outdoor areas, subject to local zoning and permit approvals.
4. How does the 2022 sale price relate to today’s value?
The $250k-$300k sale in 2022 provides a recent benchmark. Current value would be influenced by market conditions since then, any updates made to the property, and its assessed value of $24,700k.
5. What are the comparable homes nearby?
Nearby references include 485 Walker Ave (a larger 1914 character home) and newer builds on Beresford Ave (2019). This highlights the mix of historic and modern in Lord Roberts, positioning 491 Rathgar as a more vintage, land-opportunity option compared to new constructions.