Property Summary: C-207 Academy Road, Winnipeg
Key Characteristics & Buyer Profile
This 750 sq ft unit, built in 1911, is a compact property located on Academy Road within the Wellington Crescent neighbourhood. Its most defining feature is its assessed value of $164,000, which sits well below both the street average ($484k) and the neighbourhood average ($504k). In fact, it ranks last (27 out of 27) on its street for assessed value. The living area is also notably smaller than its neighbours, measuring roughly half the average size of comparable homes on Academy Road.
The appeal here is primarily price-driven. For a buyer who values the cachet of an Academy Road address or proximity to the Wellington Crescent area—but cannot justify the typical price point—this could be a rare point of entry. The low assessed value suggests either a smaller footprint, a less updated interior, or a condo/strata arrangement (common for older, subdivided buildings). The year built (1911) places it among the older properties citywide, which may appeal to those who appreciate pre-war construction or character details, though it will likely require more ongoing maintenance than newer builds.
Best suited for: A value-focused buyer who prioritizes location over square footage; a first-time homeowner looking for an affordable foothold in an expensive area; or an investor seeking a lower-cost rental unit in a high-demand corridor. It is less suitable for families needing space or those wanting a move-in-ready, low-maintenance property.
Five Possible FAQs
1. Does the low assessed value mean the property is in poor condition?
Not necessarily. Assessment values are based on market conditions, comparable sales, and physical characteristics like size and age. A low value often reflects a smaller living area rather than disrepair. However, the 1911 build date is older than 98% of citywide comparables, so a home inspection is strongly recommended to gauge structural and mechanical condition.
2. Is this a single-family home or a condo/strata unit?
The data alone doesn’t specify this, but the 750 sq ft footprint and rank relative to much larger homes suggests it may be a condominium, apartment, or a subdivided portion of a larger building. Buyers should confirm the ownership type (freehold vs. strata) and any associated fees or rules before making an offer.
3. How does this property compare to others citywide?
Citywide, it ranks in the bottom 17% for living area and bottom 21% for assessed value. However, it performs better in those categories than many homes across Winnipeg, since the citywide average living area is also modest (1,042 sq ft). The main discrepancy is within its own expensive neighbourhood.
4. Why is the assessed value so far below the street average?
Academy Road has a wide mix of property types, including newer townhouses and larger single-family homes. This unit is likely on the smaller, older, or less updated end of that mix—pulling its value well below the median for the street. Its rank (27 out of 27) shows it is the least valuable home in the sample on that road.
5. Will financing or insurance be harder to get for a 1911 property?
Some lenders and insurers have stricter requirements for homes over 100 years old, particularly regarding electrical, plumbing, and roofing. A certified inspection and updated systems can help. It’s wise to check with your lender early in the process. Older homes can also carry higher insurance premiums for replacement cost, due to materials and labour.