Property Overview: 413 Yale Avenue W, Winnipeg
Key Characteristics & Appeal
This 1915 home in Victoria West presents a distinct value proposition within its context. Its primary appeal lies in its position as a more modest and affordable entry point into a desirable neighborhood. With 1,106 sqft of living space on a 3,299 sqft lot, the property is notably smaller than most comparable homes on its street and in the wider city. This translates to a significantly lower assessed value ($237k) compared to area averages, which are over $400k on Yale Avenue W itself.
The home would suit practical, value-conscious buyers looking to establish themselves in a well-regarded central neighborhood like Victoria West. It’s a potential fit for first-time homeowners, investors, or downsizers who prioritize location over square footage and see opportunity in a property that may require updates. A thoughtful perspective is that the smaller lot and home size could mean lower maintenance costs and utility expenses, offering a different kind of lifestyle efficiency compared to larger, more expensive period homes in the same area.
Frequently Asked Questions
1. Why is the assessed value so much lower than the street average?
The assessed value is based on specific property characteristics. This home has a smaller living area and a significantly smaller lot size than the typical home on Yale Avenue W, which directly contributes to its lower valuation.
2. What does the "Top 87%" ranking for value mean?
This percentile ranking compares the home to others. A rank of 87% for value means its assessed value is lower than 87% of comparable properties on the same street. In this case, it indicates it is one of the more affordable properties in its immediate vicinity.
3. Is a home from 1915 a concern?
The build year (1915) is older than most in the neighborhood and city. This suggests potential for classic architectural charm but also means prospective buyers should prioritize a thorough inspection to understand the condition of major systems, the roof, and the foundation.
4. How does the lot size impact potential for expansion or outdoor space?
At 3,299 sqft, the lot is smaller than average. This may limit possibilities for large additions or extensive landscaping. However, it can also mean less yard work and a more manageable outdoor space.
5. Are the property taxes likely to be lower because of the assessment?
While not guaranteed, a lower assessed value typically results in a lower municipal property tax bill compared to higher-valued homes on the same street, which is an important ongoing cost consideration.