Property Overview: 501 Day Street, Victoria West, Winnipeg
Key Characteristics & Appeal
This 1949 home on a 5,489 sqft lot presents a compelling blend of space, location, and value. Its primary appeal lies in its generous proportions relative to its immediate surroundings. The 1,382 sqft living area is notably larger than most homes on Day Street (top 7%) and ranks as elite within the desirable Victoria West neighborhood (top 5%). The lot size is also a significant asset, placing in the top 17% on the street and top 10% in the area, offering ample outdoor space uncommon for the locale.
The home suits practical buyers seeking a well-positioned property with clear upside. It’s ideal for someone who values a larger footprint and yard in a mature, established community over a newer build. The assessed value ($303k) sits around the street average but below the city average, suggesting a potential value opportunity for a home of this size in a prime neighborhood. A thoughtful buyer will see a property that outperforms its elite neighborhood in space but may require updates, given its older construction date compared to others on the block.
Frequently Asked Questions
1. How does this home really compare to others in Victoria West?
It offers more living space and a larger lot than approximately 95% of comparable homes in Victoria West, placing it in the elite tier for those specific metrics. However, its assessed value is above the neighborhood average, reflecting its larger size.
2. The home was built in 1949. Is that a concern?
It is older than 79% of comparable homes on its own street, where the average build year is 1959. This suggests the immediate block has newer homes, so a pre-purchase inspection is essential to understand the condition and any needed updates for this specific property.
3. Is the assessed value a good indicator of the market price?
The assessment is a snapshot for taxation. Here, it’s close to the street average but significantly below the Winnipeg city average for comparable homes. This often indicates the value is more influenced by the local street and neighborhood market conditions, which can be a positive for buyers.
4. What does the lot size ranking mean for me?
With a lot size in the top 10% for the neighborhood, you have substantially more outdoor space than most Victoria West properties. This allows for greater privacy, gardening, expansion potential, or simply more room for recreation.
5. Where can I see how this property fits into the neighborhood visually?
You can open the dedicated neighbourhood analysis page to view this property on a map alongside nearby houses, allowing for a direct visual comparison of year built, living area, assessed value, and lot size.