Property Overview
This home at 524 Yale Avenue W in Winnipeg's Victoria West neighborhood presents a balanced, mid-century offering. Built in 1956, it is a newer construction compared to many heritage homes in the immediate area. With 1,037 sqft of living space on a 4,298 sqft lot and an assessed value of $293k, it sits in the middle range across most metrics—neither the largest nor the most expensive property on its street or in the city.
Its appeal lies in its relative modernity within a well-established neighborhood and its position as a more accessible entry point onto a street where average home values are significantly higher. This creates a potential value proposition: you're buying into a desirable location with homes often assessed near $408k, but at a lower price point. The lot size is manageable, offering outdoor space without the upkeep of a larger yard.
This property would suit first-time buyers or practical downsizers looking for a foothold in a central neighborhood without a premium price tag. It’s for those who prioritize location and a solid, post-war build over sheer size or a full heritage character. The numbers suggest it's a "middle-of-the-road" home in the best sense—offering stability and a sensible investment in a community with a wide range of property values.
Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value of $293k is notably below the street average of $408.8k. This typically suggests a more modest home relative to its neighbors. Market value can be influenced by condition, updates, and market trends, but the assessment indicates a potentially more affordable asking price within this specific location.
2. Is the 1956 build date an advantage?
Yes, particularly in this context. While older homes have charm, a 1956 build is newer than most on the street (avg. 1939) and in Victoria West (avg. 1945). This could mean fewer concerns with outdated mechanical systems or foundations common in early 20th-century construction, offering a more modern living envelope.
3. The living area is below the street average. Is that a major drawback?
At 1,037 sqft, it's about 500 sqft smaller than the average home on Yale Avenue W. This confirms it's a more compact offering. For the right buyer, this means lower utility costs and less maintenance. It emphasizes the purchase as one primarily for location and lot, with the home itself being comfortable but not expansive.
4. What does the lot size tell me?
At 4,298 sqft, the lot is slightly above the neighborhood average but below the street average. It's a generous city lot that provides good outdoor space and privacy, but isn't so large as to be burdensome. It strikes a practical balance for gardening, recreation, or future expansion.
5. Are these rankings good for resale?
The rankings show a property that is consistently "around average" across different scales. This stability can be a strength for resale, as it avoids the extremes. It's not the smallest or most expensive, making it a relatable and marketable property to a broad pool of future buyers looking in the Victoria West area.