121 Kate Street – Property Summary
Key Characteristics and Buyer Profile
This is a 1,502 sqft home on an exceptionally large 8,805 sqft lot in Winnipeg’s West Alexander neighbourhood. Built in 1882, it’s one of the oldest properties on its street and in the area—but that comes with trade-offs worth noting.
Where the appeal lies: The land is the standout feature. It ranks 2nd out of 15 homes on Kate Street (top 13%), 3rd out of 772 in West Alexander (top 1%), and in the top 9% citywide. For someone who values outdoor space, gardening, or future development potential, this is rare at this price point. The living space is slightly above average for the neighbourhood and city (top 30% in both), so interior room is solid without being exceptional.
The trade-off: The property tax assessment is $168,000—well below the city average of $390,000 (bottom 5% citywide). That keeps annual taxes low, but it also reflects the age and likely condition relative to newer or renovated homes nearby. The building itself is among the oldest in the city, so maintenance history and systems will matter a lot here.
Who it suits: Buyers who prioritize land and lower carrying costs over a turnkey modern interior. It could work for someone handy or willing to renovate gradually, or for someone who wants a large yard in a central neighbourhood without paying for a fully updated house. It’s less suited to buyers looking for a move-in-ready home with modern finishes, or those who want to be surrounded by similarly aged or newer properties.
Frequently Asked Questions
1. Why is the property tax assessment so low compared to other homes in Winnipeg?
The assessed value of $168,000 is below average for West Alexander and far below the city median. This is largely due to the home’s age (1882) and likely limited updates relative to newer or renovated homes. Lower assessments mean lower annual property taxes, but they also tend to correlate with older systems, fixtures, and overall condition.
2. Is the large lot usable for anything besides a yard?
At 8,805 sqft, it’s one of the largest lots in the neighbourhood. Whether it can be subdivided or developed depends on local zoning and lot dimensions—something a buyer would need to confirm with the city. It’s rare to find this much land in a central Winnipeg location at a relatively low tax assessment.
3. What should I look out for with a home built in 1882?
Homes of this era often have older foundations (sometimes limestone or fieldstone), knob-and-tube or outdated electrical, galvanized or cast-iron plumbing, and possible lead paint or asbestos in older insulation or finishes. A thorough home inspection—especially of the foundation, roof, and mechanicals—is strongly recommended. Renovation history matters more than the build year itself.
4. How does this property compare to others on Kate Street and in West Alexander?
On Kate Street, it’s close to average for both size and tax assessment, but has the second-largest lot. In West Alexander, it’s above average for living space and top 1% for lot size, but one of the oldest homes. So it’s not an outlier on the street, but it stands out in the broader neighbourhood for its land and age.
5. Is this a good investment for someone who wants to renovate and resell?
Potentially, but with caveats. The low tax assessment and large lot give it strong underlying value, and the neighbourhood is central. But the home’s age means renovation costs can escalate quickly, and resale value will depend on how the finished product compares to other homes in the area—few of which are as old. It may work better as a long-term hold or personal project than a quick flip.