Section 1: Property Overview
506 Walker Avenue is a compact, century-old home in Winnipeg's Lord Roberts neighbourhood. Its key characteristic is its modest 720 sqft living area, which is smaller than most homes on its street and in the wider city. Built in 1911, it sits on a standard city lot of just over 2,200 sqft. The home’s assessed value is notably lower than the city average, positioning it as an accessible entry point into the market.
The appeal lies in its location and practicality. It suits first-time buyers or investors looking for a lower-cost foothold in a central, established neighbourhood. The lot size offers potential for future expansion or garden space, which is a valuable asset in an older area. A thoughtful perspective is that this property represents a "value-over-size" proposition; you're purchasing location and land, with the home itself being a project or a cozy, efficient space to build equity from.
Section 2: Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily. The assessed value is around average for Walker Avenue itself, indicating it fits the local context. It primarily reflects the home's smaller size and age compared to the broader city, which can mean a more affordable property tax bill.
2. What does the living area ranking mean for daily life?
Ranking in the top 74% on its street for living area means over a quarter of homes on Walker Avenue are smaller. However, at 720 sqft, it is significantly cozier than the area average. It would suit a single person, a couple, or someone comfortable with efficient, minimalist living.
3. How does the 1911 build year affect the property?
Built in 1911, the home is older than most in Winnipeg. This typically means character but also implies a need for a thorough inspection for foundational integrity, wiring, plumbing, and insulation updates. Its age is average for its immediate street, so local contractors may be familiar with similar homes.
4. What can the sold price history tell me?
The home sold between $200k-$250k in 2019. This historical price, combined with the current lower assessed value, suggests it may be priced below recent area comparables. For the exact sale price, you can request it via email from the site.
5. Are the nearby "Worth Viewing" listings good comparisons?
The listings on Beresford Avenue (built 2019, higher assessment) are likely newer infill homes and not direct comparisons. Better references are the other older homes on Walker Avenue or similar streets, like 485 Walker or 558 Rathgar, which share similar vintage and scale.